Rockridge Resources Correlations
| ROCK Stock | CAD 0.02 0.01 33.33% |
The current 90-days correlation between Rockridge Resources and Foraco International SA is -0.03 (i.e., Good diversification). The correlation of Rockridge 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Rockridge Resources Correlation With Market
Good diversification
The correlation between Rockridge Resources 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 Rockridge Resources and DJI in the same portfolio, assuming nothing else is changed.
Rockridge |
The ability to find closely correlated positions to Rockridge 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 Rockridge 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 Rockridge 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 Rockridge Resources to buy it.
Moving against Rockridge Stock
| 0.63 | NG | NovaGold Resources | PairCorr |
| 0.49 | HPQ | HPQ Silicon Resources | PairCorr |
| 0.32 | INFM | Infinico Metals Corp | PairCorr |
Related Correlations Analysis
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Rockridge Resources Corporate Executives
Elected by the shareholders, the Rockridge Resources' board of directors comprises two types of representatives: Rockridge Resources inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Rockridge. The board's role is to monitor Rockridge Resources' management team and ensure that shareholders' interests are well served. Rockridge Resources' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Rockridge Resources' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Amanda Chow | Chief Financial Officer, Secretary | Profile |