Dundee Precious Correlations
| DPM Stock | CAD 18.79 0.35 1.90% |
The current 90-days correlation between Dundee Precious Metals and Centerra Gold is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dundee Precious moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dundee Precious Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Dundee |
The ability to find closely correlated positions to Dundee Precious could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dundee Precious 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 Dundee Precious - 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 Dundee Precious Metals to buy it.
Moving together with Dundee Stock
| 0.86 | ORE | Orezone Gold Corp | PairCorr |
| 0.81 | FDY | Faraday Copper Corp | PairCorr |
| 0.93 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.65 | CHEV | CHEVRON CDR | PairCorr |
Moving against Dundee Stock
| 0.7 | AMZN | Amazon CDR | PairCorr |
| 0.66 | GOOG | Alphabet CDR | PairCorr |
| 0.6 | IE | Ivanhoe Energy | PairCorr |
| 0.57 | AAPL | Apple Inc CDR | PairCorr |
| 0.55 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.35 | GRA | NanoXplore | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Dundee Stock performing well and Dundee Precious 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 Dundee Precious' 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CG | 1.80 | 0.20 | 0.07 | 0.32 | 2.43 | 3.82 | 11.12 | |||
| SSRM | 2.32 | 0.75 | 0.31 | 0.83 | 1.95 | 4.98 | 16.59 | |||
| AGI | 1.55 | 0.58 | 0.30 | 1.52 | 1.30 | 3.79 | 8.00 | |||
| EDV | 1.45 | 0.43 | 0.20 | 1.93 | 1.69 | 3.89 | 10.35 | |||
| LUG | 2.12 | 0.57 | 0.21 | 2.16 | 2.12 | 5.88 | 13.69 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Dundee Precious 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?
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