| BRGC Stock | | | USD 0.08 0 2.50% |
The current 90-days correlation between Brightrock Gold Corp and Compania de Minas is -0.08 (i.e., Good diversification). The correlation of Brightrock Gold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Brightrock Gold Correlation With Market
Average diversification
The correlation between Brightrock Gold Corp and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brightrock Gold Corp and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Brightrock Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Brightrock Gold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Brightrock Gold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Brightrock Gold Corp to buy it.
Moving together with Brightrock Pink Sheet
Moving against Brightrock Pink Sheet
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Brightrock Pink Sheet performing well and Brightrock Gold Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Brightrock Gold's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Be your own money manager
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Brightrock Gold Corporate Management