Getchell Gold Correlations

GGLDF Stock

USD 0.17 0.01 6.25%

The correlation of Getchell Gold 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.

Getchell Gold Correlation With Market

Modest diversification

The correlation between Getchell Gold Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Getchell Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Getchell Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Getchell Gold 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 Getchell Gold - 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 Getchell Gold Corp to buy it.

Moving together with Getchell OTC Stock

0.87	NEM	Newmont Goldcorp Corp	Pair Corr
0.88	AEM	Agnico Eagle Mines	Pair Corr
0.7	ZIJMY	Zijin Mining Group	Pair Corr
0.65	ZIJMF	Zijin Mining Group	Pair Corr
0.79	WPM	Wheaton Precious Metals	Pair Corr
0.75	GOLD	Barrick Gold Corp	Pair Corr
0.89	AU	AngloGold Ashanti plc	Pair Corr
0.87	WM	Waste Management	Pair Corr
0.71	PLTR	Palantir Technologies	Pair Corr
0.74	HROWM	Harrow Health, 11875	Pair Corr
0.68	GTN	Gray Television	Pair Corr
0.82	IBM	International Business	Pair Corr
0.66	CVX	Chevron Corp	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr

Moving against Getchell OTC Stock

0.67	MSFT	Microsoft	Pair Corr
0.49	AA	Alcoa Corp	Pair Corr
0.45	CAT	Caterpillar	Pair Corr
0.33	HPQ	HP Inc	Pair Corr
0.32	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	WHGOF	PHNMF	RVLGF	OMGGF	TSRMF	GAU	BTG	AVGDF	TRGGF	FFOXF
WHGOF		0.24	0.25	-0.19	0.0	0.4	0.06	0.11	0.24	-0.12	WHGOF
PHNMF	0.24		-0.13	-0.52	0.0	0.14	-0.27	-0.29	-0.43	0.09	PHNMF
RVLGF	0.25	-0.13		0.56	0.0	0.54	0.78	0.48	0.61	-0.26	RVLGF
OMGGF	-0.19	-0.52	0.56		0.0	0.07	0.5	0.5	0.43	-0.19	OMGGF
TSRMF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TSRMF
GAU	0.4	0.14	0.54	0.07	0.0		0.6	0.44	0.26	0.09	GAU
BTG	0.06	-0.27	0.78	0.5	0.0	0.6		0.59	0.49	0.03	BTG
AVGDF	0.11	-0.29	0.48	0.5	0.0	0.44	0.59		0.34	0.1	AVGDF
TRGGF	0.24	-0.43	0.61	0.43	0.0	0.26	0.49	0.34		-0.34	TRGGF
FFOXF	-0.12	0.09	-0.26	-0.19	0.0	0.09	0.03	0.1	-0.34		FFOXF
	WHGOF	PHNMF	RVLGF	OMGGF	TSRMF	GAU	BTG	AVGDF	TRGGF	FFOXF

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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

BTG	+ 0.78	RVLGF
TRGGF	+ 0.61	RVLGF
BTG	+ 0.6	GAU
AVGDF	+ 0.59	BTG
OMGGF	+ 0.56	RVLGF
GAU	+ 0.54	RVLGF

High negative correlations

OMGGF	- 0.52	PHNMF
TRGGF	- 0.43	PHNMF
FFOXF	- 0.34	TRGGF
AVGDF	- 0.29	PHNMF
BTG	- 0.27	PHNMF
FFOXF	- 0.26	RVLGF

Risk-Adjusted Indicators

There is a big difference between Getchell OTC Stock performing well and Getchell Gold OTC Stock 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 Getchell Gold'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WHGOF	3.55	0.21	0.04	(0.81)	3.94	(7.55)	7.14	(6.67)	26.79
PHNMF	3.49	(0.17)	0.00	(0.34)	0.00	0.00	10.00	(5.56)	27.92
RVLGF	3.76	0.59	0.10	0.58	3.49	(7.44)	11.11	(5.88)	26.75
OMGGF	5.54	1.52	0.21	1.20	5.05	(7.98)	14.29	(8.33)	34.54
TSRMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GAU	2.79	(0.01)	0.00	(0.08)	0.00	0.00	6.03	(6.45)	17.91
BTG	2.10	0.30	0.15	3.04	2.32	(2.33)	5.07	(3.11)	13.12
AVGDF	2.49	0.42	0.00	0.66	0.00	0.00	12.46	(9.57)	35.31
TRGGF	9.59	2.19	0.09	0.30	8.74	(54.53)	40.00	(21.05)	132.33
FFOXF	6.36	0.37	0.05	0.87	6.75	(11.39)	18.18	(12.50)	59.48

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Our tools can tell you how much better you can do entering a position in Getchell Gold 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.

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