Golden Star Correlations

GLNS Stock

USD 0.75 0.00 0.00%

The correlation of Golden Star 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.

Golden Star Correlation With Market

Good diversification

The correlation between Golden Star Resource and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Star Resource and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Golden OTC Stock

0.64	PPERF	Bank Mandiri Persero	Pair Corr
0.69	U4R90AAB4	HLF 4875 01	Pair Corr

Moving against Golden OTC Stock

0.83	KO	Coca Cola	Pair Corr
0.78	WPM	Wheaton Precious Metals	Pair Corr
0.77	SDXEF	SDX Energy plc	Pair Corr
0.76	T	ATT Inc Aggressive Push	Pair Corr
0.73	EC	Ecopetrol SA ADR Sell-off Trend	Pair Corr
0.7	ECL	Ecolab Inc	Pair Corr
0.69	AGI	Alamos Gold	Pair Corr
0.69	SHUNF	Shunfeng International	Pair Corr
0.65	IVR	Invesco Mortgage Capital Sell-off Trend	Pair Corr
0.63	HWM	Howmet Aerospace	Pair Corr
0.79	BLAGF	Blue Lagoon Resources	Pair Corr
0.77	YUM	Yum Brands	Pair Corr
0.77	PINS	Pinterest	Pair Corr
0.76	MITUF	Mitsui Chemicals	Pair Corr
0.72	TCTZF	Tencent Holdings	Pair Corr
0.71	VOLVF	Volvo AB ser	Pair Corr
0.7	COST	Costco Wholesale Corp	Pair Corr
0.7	AXIL	AXIL Brands,	Pair Corr
0.68	TVE	Tennessee Valley Aut	Pair Corr
0.68	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	RDNT	XPOF	BWOFY	NEOG	GNFT	ARDX	ABOS	UNMK
RDNT		-0.27	0.44	0.86	0.53	-0.15	0.94	0.0	RDNT
XPOF	-0.27		-0.54	-0.35	0.31	0.62	-0.28	0.0	XPOF
BWOFY	0.44	-0.54		0.35	-0.29	-0.34	0.4	0.0	BWOFY
NEOG	0.86	-0.35	0.35		0.36	-0.26	0.91	0.0	NEOG
GNFT	0.53	0.31	-0.29	0.36		0.23	0.48	0.0	GNFT
ARDX	-0.15	0.62	-0.34	-0.26	0.23		-0.18	0.0	ARDX
ABOS	0.94	-0.28	0.4	0.91	0.48	-0.18		0.0	ABOS
UNMK	0.0	0.0	0.0	0.0	0.0	0.0	0.0		UNMK
	RDNT	XPOF	BWOFY	NEOG	GNFT	ARDX	ABOS	UNMK

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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

ABOS	+ 0.94	RDNT
ABOS	+ 0.91	NEOG
NEOG	+ 0.86	RDNT
ARDX	+ 0.62	XPOF
GNFT	+ 0.53	RDNT
ABOS	+ 0.48	GNFT

High negative correlations

BWOFY	- 0.54	XPOF
NEOG	- 0.35	XPOF
ARDX	- 0.34	BWOFY
GNFT	- 0.29	BWOFY
ABOS	- 0.28	XPOF
XPOF	- 0.27	RDNT

Risk-Adjusted Indicators

There is a big difference between Golden OTC Stock performing well and Golden Star 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 Golden Star'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
RDNT	1.78	(0.55)	0.00	(1.05)	0.00	0.00	3.09	(4.80)	10.99
XPOF	2.70	(0.05)	0.00	(0.07)	0.00	0.00	6.76	(6.36)	18.26
BWOFY	0.32	(0.19)	0.00	0.35	0.00	0.00	0.00	0.00	9.73
NEOG	2.08	(0.53)	0.00	(1.12)	0.00	0.00	3.64	(5.33)	10.19
GNFT	2.19	(0.25)	0.00	(0.29)	0.00	0.00	4.64	(4.44)	13.22
ARDX	3.19	0.19	0.05	1.34	4.28	(3.59)	8.32	(7.87)	27.51
ABOS	2.83	(0.80)	0.00	(0.65)	0.00	0.00	6.57	(6.19)	15.46
UNMK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Golden Star 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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