GCM Resources Correlations
| GCLMF Stock | USD 0.01 0.00 0.00% |
The current 90-days correlation between GCM Resources Plc and NACCO Industries is -0.16 (i.e., Good diversification). The correlation of GCM Resources 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.
GCM |
The ability to find closely correlated positions to GCM Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GCM Resources 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 GCM Resources - 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 GCM Resources Plc to buy it.
Moving together with GCM Pink Sheet
| 0.71 | CSUAY | China Shenhua Energy Earnings Call Tomorrow | PairCorr |
| 0.8 | YZCHF | Yanzhou Coal Mining | PairCorr |
| 0.74 | YZCAY | Yanzhou Coal Mining | PairCorr |
| 0.61 | TAKD | TransAKT | PairCorr |
Moving against GCM Pink Sheet
| 0.76 | PAGP | Plains GP Holdings | PairCorr |
| 0.72 | SARMF | Southern Arc Minerals | PairCorr |
| 0.71 | ROWKF | RenoWorks Software | PairCorr |
| 0.66 | TYCMY | Tingyi Holding Corp Earnings Call This Week | PairCorr |
| 0.64 | WLYW | Wally World Media | PairCorr |
| 0.61 | SLS | Sellas Life Sciences Earnings Call This Week | PairCorr |
| 0.57 | ADOOY | Adaro Energy Tbk | PairCorr |
| 0.55 | SOAGY | Sartorius Aktiengesellscha | PairCorr |
| 0.52 | RZB | Reinsurance Group | PairCorr |
| 0.52 | ORLA | Orla Mining | PairCorr |
| 0.42 | NSFDF | NXT Energy Solutions Earnings Call This Week | PairCorr |
| 0.41 | ZTLLF | Zonetail | PairCorr |
| 0.4 | CABGY | Carlsberg AS | PairCorr |
| 0.35 | WALRF | MegaWatt Lithium | PairCorr |
| 0.34 | PLYZ | Plyzer Technologies | PairCorr |
| 0.8 | SAGE | Sage Therapeutic | PairCorr |
| 0.77 | PAA | Plains All American | PairCorr |
| 0.71 | PRSI | Portsmouth Square | PairCorr |
| 0.66 | SCGPY | Serco Group PLC | PairCorr |
| 0.63 | SNY | Sanofi ADR | PairCorr |
| 0.62 | SAFRF | Safran SA | PairCorr |
| 0.62 | XOSWW | Xos Equity Warrants | PairCorr |
| 0.59 | SEPJF | Spectris plc | PairCorr |
| 0.55 | SGBX | SG Blocks | PairCorr |
Related Correlations Analysis
| 0.23 | -0.33 | 0.0 | -0.41 | -0.8 | -0.16 | NC | ||
| 0.23 | 0.31 | 0.0 | 0.33 | 0.1 | -0.03 | ARLP | ||
| -0.33 | 0.31 | 0.0 | 0.47 | 0.69 | 0.46 | HNRG | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CEIX | ||
| -0.41 | 0.33 | 0.47 | 0.0 | 0.54 | 0.11 | ITAYY | ||
| -0.8 | 0.1 | 0.69 | 0.0 | 0.54 | 0.42 | BTU | ||
| -0.16 | -0.03 | 0.46 | 0.0 | 0.11 | 0.42 | NRP | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between GCM Pink Sheet performing well and GCM Resources 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 GCM Resources' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NC | 1.17 | 0.19 | 0.18 | 0.71 | 1.29 | 2.85 | 7.20 | |||
| ARLP | 1.34 | 0.06 | 0.06 | 0.15 | 1.95 | 2.94 | 10.41 | |||
| HNRG | 3.24 | 0.00 | 0.00 | (0.10) | 0.00 | 7.25 | 35.25 | |||
| CEIX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ITAYY | 0.91 | 0.07 | 0.00 | 0.15 | 0.00 | 0.00 | 31.30 | |||
| BTU | 2.54 | (0.61) | 0.00 | (1.99) | 0.00 | 5.11 | 15.96 | |||
| NRP | 1.73 | 0.16 | 0.06 | 0.05 | 2.39 | 3.35 | 16.97 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in GCM Resources 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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