Tudor Gold Correlations

TDRRF Stock

USD 0.60 0.02 3.45%

The current 90-days correlation between Tudor Gold Corp and Collective Mining is -0.06 (i.e., Good diversification). The correlation of Tudor Gold 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.

Tudor Gold Correlation With Market

Good diversification

The correlation between Tudor Gold Corp and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tudor Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tudor Pink Sheet

0.61	PTAIY	Astra International Tbk	Pair Corr
0.62	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Tudor Pink Sheet

0.46	MAPSW	WM Technology	Pair Corr
0.62	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.51	BAC	Bank of America Aggressive Push	Pair Corr
0.43	DIS	Walt Disney Sell-off Trend	Pair Corr

Related Correlations Analysis

	FRERF	NRRSF	HUMRF	CGOLF	RIOFF	MZZMF	AIRRF	MMRGF	BELGF	CNLMF
FRERF		0.33	-0.56	-0.13	-0.1	-0.32	-0.35	-0.42	0.26	0.43	FRERF
NRRSF	0.33		-0.59	0.47	0.69	-0.49	0.5	0.09	0.63	0.88	NRRSF
HUMRF	-0.56	-0.59		0.18	-0.12	0.06	0.22	0.55	-0.09	-0.63	HUMRF
CGOLF	-0.13	0.47	0.18		0.64	-0.51	0.7	0.6	0.72	0.28	CGOLF
RIOFF	-0.1	0.69	-0.12	0.64		-0.43	0.7	0.53	0.63	0.62	RIOFF
MZZMF	-0.32	-0.49	0.06	-0.51	-0.43		-0.31	-0.29	-0.64	-0.42	MZZMF
AIRRF	-0.35	0.5	0.22	0.7	0.7	-0.31		0.75	0.62	0.27	AIRRF
MMRGF	-0.42	0.09	0.55	0.6	0.53	-0.29	0.75		0.46	-0.07	MMRGF
BELGF	0.26	0.63	-0.09	0.72	0.63	-0.64	0.62	0.46		0.52	BELGF
CNLMF	0.43	0.88	-0.63	0.28	0.62	-0.42	0.27	-0.07	0.52		CNLMF
	FRERF	NRRSF	HUMRF	CGOLF	RIOFF	MZZMF	AIRRF	MMRGF	BELGF	CNLMF

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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

CNLMF	+ 0.88	NRRSF
MMRGF	+ 0.75	AIRRF
BELGF	+ 0.72	CGOLF
AIRRF	+ 0.7	CGOLF
AIRRF	+ 0.7	RIOFF
RIOFF	+ 0.69	NRRSF

High negative correlations

BELGF	- 0.64	MZZMF
CNLMF	- 0.63	HUMRF
HUMRF	- 0.59	NRRSF
HUMRF	- 0.56	FRERF
MZZMF	- 0.51	CGOLF
MZZMF	- 0.49	NRRSF

Risk-Adjusted Indicators

There is a big difference between Tudor Pink Sheet performing well and Tudor Gold 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 Tudor Gold'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
FRERF	6.08	(0.05)	0.00	0.05	9.02	(15.47)	19.18	(21.43)	67.94
NRRSF	6.57	2.18	0.22	(0.95)	4.60	(12.74)	18.16	(10.00)	59.70
HUMRF	7.33	(0.52)	0.00	0.27	0.00	0.00	20.00	(27.06)	112.66
CGOLF	5.11	(0.10)	(0.01)	0.01	6.72	(9.39)	11.54	(15.03)	65.19
RIOFF	2.28	0.33	0.05	(2.76)	2.16	(4.29)	5.77	(4.26)	16.67
MZZMF	6.11	0.94	0.07	0.40	6.30	(21.37)	14.29	(14.29)	116.00
AIRRF	2.37	0.04	0.00	0.19	2.92	(3.53)	5.13	(6.12)	15.14
MMRGF	4.38	(0.22)	0.00	(0.19)	0.00	0.00	7.14	(6.67)	26.90
BELGF	1.27	(0.14)	0.00	(0.11)	0.00	0.00	4.71	(4.55)	29.29
CNLMF	2.94	0.47	0.15	0.65	2.66	(3.92)	8.58	(4.73)	23.84

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Our tools can tell you how much better you can do entering a position in Tudor Gold 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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