Gem Diamonds Correlations

GMDMF Stock

USD 0.16 0.00 0.00%

The current 90-days correlation between Gem Diamonds Limited and Defiance Silver Corp is -0.19 (i.e., Good diversification). The correlation of Gem Diamonds 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.

Gem Diamonds Correlation With Market

Average diversification

The correlation between Gem Diamonds Limited and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gem Diamonds Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gem Pink Sheet

0.78	FNLPF	Fresnillo PLC	Pair Corr
0.79	TFPM	Triple Flag Precious	Pair Corr
0.7	ZTLLF	Zonetail	Pair Corr
0.7	NSFDF	NXT Energy Solutions Earnings Call Tomorrow	Pair Corr
0.93	WM	Waste Management	Pair Corr
0.75	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.86	T	ATT Inc Earnings Call Today	Pair Corr
0.81	CSCO	Cisco Systems	Pair Corr
0.88	MMM	3M Company	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.81	KO	Coca Cola	Pair Corr
0.71	VZ	Verizon Communications	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.9	GE	GE Aerospace	Pair Corr

Moving against Gem Pink Sheet

0.82	ZMPLF	Zimplats Holdings	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.44	DIS	Walt Disney	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.51	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	DNCVF	SSVFF	SVGAF	ASLRF	EXK	SILV	HL	PLG	GATO	MUX
DNCVF		0.8	0.31	-0.25	0.77	0.34	0.51	0.06	0.0	-0.32	DNCVF
SSVFF	0.8		0.29	-0.13	0.85	0.34	0.57	0.13	0.0	-0.29	SSVFF
SVGAF	0.31	0.29		0.1	0.11	-0.25	0.39	-0.04	0.0	-0.18	SVGAF
ASLRF	-0.25	-0.13	0.1		-0.26	-0.15	-0.34	0.06	0.0	-0.13	ASLRF
EXK	0.77	0.85	0.11	-0.26		0.36	0.61	0.16	0.0	-0.07	EXK
SILV	0.34	0.34	-0.25	-0.15	0.36		-0.04	-0.06	0.0	-0.07	SILV
HL	0.51	0.57	0.39	-0.34	0.61	-0.04		0.36	0.0	0.17	HL
PLG	0.06	0.13	-0.04	0.06	0.16	-0.06	0.36		0.0	0.35	PLG
GATO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	GATO
MUX	-0.32	-0.29	-0.18	-0.13	-0.07	-0.07	0.17	0.35	0.0		MUX
	DNCVF	SSVFF	SVGAF	ASLRF	EXK	SILV	HL	PLG	GATO	MUX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

EXK	+ 0.85	SSVFF
SSVFF	+ 0.8	DNCVF
EXK	+ 0.77	DNCVF
HL	+ 0.61	EXK
HL	+ 0.57	SSVFF
HL	+ 0.51	DNCVF

High negative correlations

HL	- 0.34	ASLRF
MUX	- 0.32	DNCVF
MUX	- 0.29	SSVFF
EXK	- 0.26	ASLRF
SILV	- 0.25	SVGAF
ASLRF	- 0.25	DNCVF

Risk-Adjusted Indicators

There is a big difference between Gem Pink Sheet performing well and Gem Diamonds 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 Gem Diamonds' 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
DNCVF	5.46	0.51	0.07	(8.29)	5.47	(9.54)	15.38	(10.00)	30.00
SSVFF	5.28	0.52	0.09	(0.51)	5.02	(9.33)	12.50	(7.69)	37.44
SVGAF	9.36	1.93	0.00	4.14	0.00	0.00	20.00	(33.33)	183.33
ASLRF	71.61	26.09	0.57	(0.45)	24.38	(291.17)	125.00	(56.25)	1,826
EXK	3.42	0.38	0.10	2.47	3.95	(3.79)	8.31	(7.73)	25.80
SILV	2.70	0.18	0.09	(0.47)	2.99	(2.92)	7.36	(4.41)	15.24
HL	2.31	0.20	0.05	0.20	3.89	(2.16)	5.44	(5.16)	21.73
PLG	3.35	0.03	0.00	(0.03)	0.00	0.00	8.66	(6.12)	19.12
GATO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MUX	2.38	(0.05)	0.00	(0.14)	0.00	0.00	4.47	(6.42)	20.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gem Diamonds 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?

Run Money Flow Index Now

Money Flow Index

Determine momentum by analyzing Money Flow Index and other technical indicators

All Next

Launch Module

Gem Diamonds Corporate Management

BA LLB	Chief Sec	Profile
BCompt BCom	CEO Founder	Profile
Gavin Hons	Technical Advisor	Profile
Brandon Bruin	Chief Officer	Profile
Jaco Houman	Sr Projects	Profile
CA Hons	CFO Director	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC