Colonial Coal Correlations

CAD Stock  CAD 1.43  0.06  4.03%   
The current 90-days correlation between Colonial Coal Intern and Batero Gold Corp is 0.02 (i.e., Significant diversification). The correlation of Colonial Coal 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Colonial Coal Correlation With Market

Significant diversification

The correlation between Colonial Coal International and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Colonial Coal International and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Colonial Coal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Colonial Coal 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 Colonial Coal - 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 Colonial Coal International to buy it.

Moving together with Colonial Stock

  0.66IE Ivanhoe EnergyPairCorr
  0.81BNS Bank of Nova ScotiaPairCorr
  0.73CM Canadian Imperial BankPairCorr

Moving against Colonial Stock

  0.82ORE Orezone Gold CorpPairCorr
  0.78TD Toronto Dominion BankPairCorr
  0.69NWX Newport ExplorationPairCorr
  0.68CBG Chibougamau IndependentPairCorr
  0.63BTO B2Gold CorpPairCorr
  0.59FDY Faraday Copper CorpPairCorr
  0.59SPPP-U Sprott Physical PlatinumPairCorr
  0.55T Telus CorpPairCorr
  0.51AG First Majestic SilverPairCorr
  0.45FDR Flinders ResourcesPairCorr
  0.37BU Burcon NutraSciencePairCorr
  0.31ENB EnbridgePairCorr
  0.87PHW Purpose InternationalPairCorr
  0.86GGD GoGold ResourcesPairCorr
  0.84PRU Perseus MiningPairCorr
  0.75ALA AltaGasPairCorr
  0.7ENB-PFV Enbridge Pref 5PairCorr
  0.7SRES Sun Residential RealPairCorr
  0.68ADW-A Andrew Peller LimitedPairCorr
  0.67XOX-P Planet X CapitalPairCorr
  0.58PWF-PH Power Financial CorpPairCorr
  0.56BLM BluMetric EnvironmentalPairCorr
  0.55AVNT Avant BrandsPairCorr
  0.53IBO Universal IbogainePairCorr
  0.51AHR Amarc ResourcesPairCorr
  0.48GLDC Cassiar Gold CorpPairCorr
  0.46WLF Wolfden ResourcesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
ANKBAT
BVABAT
ANKBVA
BWRBAT
BWRBVA
ANKBWR
  
High negative correlations   
ANKBWR
BWRBVA
BWRBAT

Risk-Adjusted Indicators

There is a big difference between Colonial Stock performing well and Colonial Coal 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 Colonial Coal'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

Our tools can tell you how much better you can do entering a position in Colonial Coal without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Dashboard Now

   

Portfolio Dashboard

Portfolio dashboard that provides centralized access to all your investments
All  Next Launch Module

Colonial Coal Corporate Executives

Elected by the shareholders, the Colonial Coal's board of directors comprises two types of representatives: Colonial Coal inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Colonial. The board's role is to monitor Colonial Coal's management team and ensure that shareholders' interests are well served. Colonial Coal's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Colonial Coal's outside directors are responsible for providing unbiased perspectives on the board's policies.
CGA CPACFO SecretaryProfile