Nevada King Correlations
| NKGFF Stock | USD 0.19 0.02 9.52% |
The current 90-days correlation between Nevada King Gold and Wallbridge Mining is 0.09 (i.e., Significant diversification). The correlation of Nevada King 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.
Nevada King Correlation With Market
Average diversification
The correlation between Nevada King Gold and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nevada King Gold and DJI in the same portfolio, assuming nothing else is changed.
Nevada |
The ability to find closely correlated positions to Nevada King could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nevada King 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 Nevada King - 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 Nevada King Gold to buy it.
Moving together with Nevada OTC Stock
| 0.79 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.73 | AXP | American Express Sell-off Trend | PairCorr |
Moving against Nevada OTC Stock
| 0.61 | TCTZF | Tencent Holdings | PairCorr |
| 0.6 | VZ | Verizon Communications | PairCorr |
| 0.57 | TRV | The Travelers Companies | PairCorr |
| 0.55 | JNJ | Johnson Johnson | PairCorr |
| 0.52 | KO | Coca Cola | PairCorr |
| 0.52 | MCD | McDonalds | PairCorr |
| 0.46 | T | ATT Inc Earnings Call This Week | PairCorr |
| 0.32 | RTPPF | Rio Tinto Group | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nevada OTC Stock performing well and Nevada King 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 Nevada King'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PGEZF | 4.40 | 0.04 | 0.00 | (0.05) | 0.00 | 12.50 | 34.44 | |||
| ASDRF | 3.98 | 0.76 | 0.00 | (0.66) | 0.00 | 33.33 | 58.33 | |||
| ATCMF | 7.07 | 0.41 | 0.02 | 0.48 | 12.97 | 14.67 | 96.79 | |||
| PRMNF | 3.30 | (0.06) | 0.00 | 0.13 | 0.00 | 8.00 | 19.86 | |||
| WLBMF | 3.45 | 0.00 | 0.00 | (0.13) | 6.00 | 25.00 | 45.00 | |||
| AAGFF | 4.08 | 0.31 | 0.06 | 0.86 | 4.50 | 10.71 | 23.59 | |||
| FNICF | 5.79 | 0.25 | 0.02 | 0.19 | 8.49 | 17.34 | 46.41 | |||
| STKXF | 11.12 | 1.42 | 0.09 | 0.73 | 10.64 | 40.00 | 78.18 | |||
| EVGUF | 6.39 | 2.17 | 0.00 | 0.37 | 0.00 | 36.36 | 106.82 | |||
| STGDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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