| GPG Stock | | | CAD 0.18 0.01 5.26% |
The current 90-days correlation between Grande Portage Resources and Galantas Gold Corp is 0.38 (i.e., Weak diversification). The correlation of Grande Portage 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.
Grande Portage Correlation With Market
Significant diversification
The correlation between Grande Portage Resources and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grande Portage Resources and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Grande Portage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grande Portage 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 Grande Portage - 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 Grande Portage Resources to buy it.
Moving against Grande Stock
Related Correlations Analysis
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 | KORE | | GAL | | OCG | | KORE | | OCG | | GAL | | SKP | | GAL |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Grande Stock performing well and Grande Portage 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 Grande Portage'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Grande Portage 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.
| | Bond AnalysisEvaluate and analyze corporate bonds as a potential investment for your portfolios. |
Grande Portage Corporate Executives
Elected by the shareholders, the Grande Portage's board of directors comprises two types of representatives: Grande Portage inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Grande. The board's role is to monitor Grande Portage's management team and ensure that shareholders' interests are well served. Grande Portage's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Grande Portage's outside directors are responsible for providing unbiased perspectives on the board's policies.