Antioquia Gold Correlations
| AGDXF Stock | USD 0.02 0.02 19,800% |
The correlation of Antioquia 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 Antioquia Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Antioquia 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.
Good diversification
The correlation between Antioquia Gold and NYA is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Antioquia Gold and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Antioquia 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 Antioquia 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 Antioquia 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 Antioquia Gold to buy it.
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
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Risk-Adjusted Indicators
There is a big difference between Antioquia Pink Sheet performing well and Antioquia 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 Antioquia 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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Antioquia 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.Did you try this?
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Complementary Tools for Antioquia Pink Sheet analysis
When running Antioquia Gold's price analysis, check to measure Antioquia Gold's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Antioquia Gold is operating at the current time. Most of Antioquia Gold's value examination focuses on studying past and present price action to predict the probability of Antioquia Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Antioquia Gold's price. Additionally, you may evaluate how the addition of Antioquia Gold to your portfolios can decrease your overall portfolio volatility.
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