Westward Gold Correlations

WGLIF Stock

USD 0.07 0.01 12.07%

The current 90-days correlation between Westward Gold and Heliostar Metals is 0.04 (i.e., Significant diversification). The correlation of Westward 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.

Westward Gold Correlation With Market

Good diversification

The correlation between Westward Gold and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westward Gold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Westward 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 Westward 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 Westward 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 Westward Gold to buy it.

Moving together with Westward OTC Stock

0.75	NEM	Newmont Goldcorp Corp	Pair Corr
0.68	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.68	ZIJMF	Zijin Mining Group	Pair Corr
0.71	WPM	Wheaton Precious Metals	Pair Corr
0.71	GOLD	Barrick Gold Corp	Pair Corr
0.75	AU	AngloGold Ashanti plc	Pair Corr
0.68	NVRO	Nevro Corp	Pair Corr
0.69	BAOB	Baraboo Bancorporation	Pair Corr
0.61	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.78	AXSM	Axsome Therapeutics	Pair Corr
0.64	KO	Coca Cola	Pair Corr
0.62	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Westward OTC Stock

0.62	STI	Solidion Technology	Pair Corr
0.58	MRK	Merck Company	Pair Corr
0.54	DIS	Walt Disney	Pair Corr
0.48	MSFT	Microsoft	Pair Corr
0.4	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.38	CAT	Caterpillar	Pair Corr
0.31	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	HSTXF	RVLGF	CBGZF	CGLCF	IEGCF	QUEXF	EQTRF	PUMXF	PMCCF	SNWGF
HSTXF		0.62	0.69	0.58	-0.29	0.76	-0.64	-0.23	0.14	0.71	HSTXF
RVLGF	0.62		0.65	0.64	-0.44	0.61	-0.28	-0.46	-0.22	0.68	RVLGF
CBGZF	0.69	0.65		0.65	-0.01	0.68	-0.15	-0.39	0.24	0.63	CBGZF
CGLCF	0.58	0.64	0.65		-0.07	0.57	-0.35	-0.3	0.18	0.33	CGLCF
IEGCF	-0.29	-0.44	-0.01	-0.07		-0.07	0.48	-0.11	0.43	-0.54	IEGCF
QUEXF	0.76	0.61	0.68	0.57	-0.07		-0.35	-0.35	0.11	0.48	QUEXF
EQTRF	-0.64	-0.28	-0.15	-0.35	0.48	-0.35		-0.19	-0.04	-0.34	EQTRF
PUMXF	-0.23	-0.46	-0.39	-0.3	-0.11	-0.35	-0.19		0.27	-0.3	PUMXF
PMCCF	0.14	-0.22	0.24	0.18	0.43	0.11	-0.04	0.27		-0.2	PMCCF
SNWGF	0.71	0.68	0.63	0.33	-0.54	0.48	-0.34	-0.3	-0.2		SNWGF
	HSTXF	RVLGF	CBGZF	CGLCF	IEGCF	QUEXF	EQTRF	PUMXF	PMCCF	SNWGF

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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

QUEXF	+ 0.76	HSTXF
SNWGF	+ 0.71	HSTXF
CBGZF	+ 0.69	HSTXF
SNWGF	+ 0.68	RVLGF
QUEXF	+ 0.68	CBGZF
CBGZF	+ 0.65	RVLGF

High negative correlations

EQTRF	- 0.64	HSTXF
SNWGF	- 0.54	IEGCF
PUMXF	- 0.46	RVLGF
IEGCF	- 0.44	RVLGF
PUMXF	- 0.39	CBGZF
PUMXF	- 0.35	QUEXF

Risk-Adjusted Indicators

There is a big difference between Westward OTC Stock performing well and Westward Gold 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 Westward 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
HSTXF	4.20	1.13	0.30	13.34	3.06	(6.52)	12.20	(6.06)	21.45
RVLGF	3.79	0.57	0.10	0.69	3.57	(7.52)	14.29	(8.00)	26.75
CBGZF	5.30	1.25	0.15	(3.14)	5.10	(8.73)	13.64	(10.53)	37.22
CGLCF	3.43	0.36	0.05	(6.26)	3.96	(7.60)	7.69	(7.14)	26.79
IEGCF	3.29	0.15	0.03	1.05	3.82	(10.01)	9.09	(7.69)	27.88
QUEXF	3.83	0.64	0.10	0.58	4.52	(5.25)	9.43	(5.97)	32.01
EQTRF	3.42	(0.06)	0.02	(0.02)	4.08	(4.06)	6.38	(7.57)	25.27
PUMXF	3.45	0.21	0.02	(0.39)	5.26	(14.49)	16.67	(16.67)	36.67
PMCCF	1.87	0.44	0.00	0.99	0.00	0.00	7.84	0.00	52.10
SNWGF	2.49	0.99	0.38	6.59	1.94	(2.97)	7.65	(4.45)	16.07

Be your own money manager

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