Goliath Resources Correlations

GOTRF Stock

USD 1.55 0.08 4.91%

The current 90-days correlation between Goliath Resources and Arras Minerals Corp is -0.08 (i.e., Good diversification). The correlation of Goliath 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.

Goliath Resources Correlation With Market

Modest diversification

The correlation between Goliath Resources Limited 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 Goliath Resources Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Goliath 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 Goliath 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 Goliath 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 Goliath Resources Limited to buy it.

Moving together with Goliath OTC Stock

0.91	FNLPF	Fresnillo PLC Earnings Call This Week	Pair Corr
0.61	BVN	Compania de Minas	Pair Corr
0.79	MSB	Mesabi Trust	Pair Corr
0.61	NTNX	Nutanix	Pair Corr
0.94	AXIL	AXIL Brands,	Pair Corr
0.91	AAVMY	ABN AMRO Bank Normal Trading	Pair Corr
0.88	PINS	Pinterest	Pair Corr
0.9	HWM	Howmet Aerospace	Pair Corr
0.96	AGI	Alamos Gold	Pair Corr
0.8	WPM	Wheaton Precious Metals	Pair Corr
0.77	KO	Coca Cola Aggressive Push	Pair Corr
0.75	BLAGF	Blue Lagoon Resources	Pair Corr
0.86	PLTR	Palantir Technologies	Pair Corr
0.74	APP	Applovin Corp	Pair Corr
0.89	T	ATT Inc Aggressive Push	Pair Corr
0.78	KPLTW	Katapult Holdings Equity	Pair Corr
0.91	GPI	Group 1 Automotive	Pair Corr
0.78	ATRC	AtriCure	Pair Corr
0.73	TCTZF	Tencent Holdings	Pair Corr
0.79	COST	Costco Wholesale Corp	Pair Corr

Moving against Goliath OTC Stock

0.51	ZMPLF	Zimplats Holdings	Pair Corr
0.38	GTOR	Ggtoor Inc	Pair Corr
0.42	IPIX	Innovation Pharmaceuticals	Pair Corr
0.34	PDPG	Liberty International	Pair Corr

Related Correlations Analysis

	AUSVF	CRTIF	ASDZF	ARRKF	MSLVF	SWLFF	LECRF	RVSDF	AXDDF	VLMGF
AUSVF		0.61	0.38	0.83	0.35	-0.52	-0.79	0.54	-0.53	0.81	AUSVF
CRTIF	0.61		0.61	0.74	0.05	-0.62	-0.71	0.23	-0.69	0.53	CRTIF
ASDZF	0.38	0.61		0.6	-0.03	-0.44	-0.6	0.12	-0.38	0.19	ASDZF
ARRKF	0.83	0.74	0.6		0.26	-0.63	-0.88	0.58	-0.55	0.74	ARRKF
MSLVF	0.35	0.05	-0.03	0.26		0.18	-0.08	0.62	0.24	0.4	MSLVF
SWLFF	-0.52	-0.62	-0.44	-0.63	0.18		0.56	-0.17	0.79	-0.53	SWLFF
LECRF	-0.79	-0.71	-0.6	-0.88	-0.08	0.56		-0.46	0.57	-0.64	LECRF
RVSDF	0.54	0.23	0.12	0.58	0.62	-0.17	-0.46		0.06	0.71	RVSDF
AXDDF	-0.53	-0.69	-0.38	-0.55	0.24	0.79	0.57	0.06		-0.41	AXDDF
VLMGF	0.81	0.53	0.19	0.74	0.4	-0.53	-0.64	0.71	-0.41		VLMGF
	AUSVF	CRTIF	ASDZF	ARRKF	MSLVF	SWLFF	LECRF	RVSDF	AXDDF	VLMGF

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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

ARRKF	+ 0.83	AUSVF
VLMGF	+ 0.81	AUSVF
AXDDF	+ 0.79	SWLFF
ARRKF	+ 0.74	CRTIF
VLMGF	+ 0.74	ARRKF
VLMGF	+ 0.71	RVSDF

High negative correlations

LECRF	- 0.88	ARRKF
LECRF	- 0.79	AUSVF
LECRF	- 0.71	CRTIF
AXDDF	- 0.69	CRTIF
VLMGF	- 0.64	LECRF
SWLFF	- 0.63	ARRKF

Risk-Adjusted Indicators

There is a big difference between Goliath OTC Stock performing well and Goliath Resources 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 Goliath 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
AUSVF	2.98	0.63	0.11	14.90	2.61	(7.20)	10.00	(5.00)	28.57
CRTIF	4.67	1.31	0.00	0.58	0.00	0.00	12.68	(7.74)	70.58
ASDZF	6.61	0.49	0.02	0.11	8.82	(18.66)	27.10	(21.37)	71.72
ARRKF	5.65	1.60	0.26	0.87	3.99	(10.48)	17.39	(9.09)	46.04
MSLVF	4.02	0.37	0.01	0.21	7.93	(26.87)	15.03	(7.67)	81.92
SWLFF	6.00	(0.39)	0.00	(2.25)	0.00	0.00	17.89	(19.89)	60.28
LECRF	4.35	(0.10)	0.00	0.04	0.00	0.00	13.00	(12.20)	28.07
RVSDF	2.42	0.35	0.05	(0.39)	3.01	(5.67)	10.00	(9.09)	20.20
AXDDF	6.70	0.03	0.00	0.08	8.87	(9.65)	16.67	(20.00)	57.25
VLMGF	3.69	0.88	0.12	(54.74)	3.33	(7.65)	9.52	(5.88)	24.88

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

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