| ESK Stock | | | CAD 0.23 0.06 35.29% |
The current 90-days correlation between Eskay Mining Corp and Grande Portage Resources is 0.12 (i.e., Average diversification). The correlation of Eskay Mining 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.
Eskay Mining Correlation With Market
Significant diversification
The correlation between Eskay Mining Corp and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eskay Mining Corp and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Eskay Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eskay Mining 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 Eskay Mining - 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 Eskay Mining Corp to buy it.
Moving together with Eskay Stock
Moving against Eskay Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Eskay Stock performing well and Eskay Mining 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 Eskay Mining'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 Eskay Mining 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 |
Eskay Mining Corporate Management
Elected by the shareholders, the Eskay Mining's board of directors comprises two types of representatives: Eskay Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eskay. The board's role is to monitor Eskay Mining's management team and ensure that shareholders' interests are well served. Eskay Mining'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, Eskay Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.