| DEFN Stock | | | CAD 0.14 0.01 7.69% |
The current 90-days correlation between Defense Metals Corp and Outcrop Gold Corp is 0.06 (i.e., Significant diversification). The correlation of Defense Metals 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.
Defense Metals Correlation With Market
Good diversification
The correlation between Defense Metals Corp and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defense Metals Corp and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Defense Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Defense Metals 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 Defense Metals - 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 Defense Metals Corp to buy it.
Moving against Defense Stock
Related Correlations Analysis
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 | GPG | | OCG | | KS | | OCG | | KS | | GPG | | OCG | | MMN | | GPG | | MMN | | KS | | MMN |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Defense Stock performing well and Defense Metals 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 Defense Metals' 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 Defense Metals 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.
| | Instant RatingsDetermine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |
Defense Metals Corporate Management
Elected by the shareholders, the Defense Metals' board of directors comprises two types of representatives: Defense Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Defense. The board's role is to monitor Defense Metals' management team and ensure that shareholders' interests are well served. Defense Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Defense Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.