Allied Gold Ownership
| AAUC Stock | 3.92 0.37 10.42% |
Allied |
Allied Stock Ownership Analysis
About 26.0% of the company shares are held by company insiders. The book value of Allied Gold was presently reported as 0.83. The company recorded a loss per share of 0.44. Allied Gold had not issued any dividends in recent years. For more info on Allied Gold go to https://alliedgold.com.Pair Trading with Allied Gold
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Allied Gold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Allied Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Allied Stock
Moving against Allied Stock
| 0.69 | NUMI | Numinus Wellness | PairCorr |
| 0.59 | ABXX | Abaxx Technologies | PairCorr |
| 0.44 | EIT-UN | Canoe EIT Income | PairCorr |
| 0.42 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.32 | BRK | Berkshire Hathaway CDR | PairCorr |
The ability to find closely correlated positions to Allied 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 Allied 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 Allied 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 Allied Gold to buy it.
The correlation of Allied 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Allied Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Allied Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Allied Gold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Allied Stock
Allied Gold financial ratios help investors to determine whether Allied Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Allied with respect to the benefits of owning Allied Gold security.