GOLD LION Correlations

Stocks . Germany . 
Stock . GOLD LION RESOURCES
2BC Stock  EUR 0.0385  0.002  4.94%   
The correlation of GOLD LION is a statistical measure of how it moves in relation to other equities. 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 GOLD LION moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GOLD LION RESOURCES 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.
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The ability to find closely correlated positions to GOLD LION could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GOLD LION 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 GOLD LION - 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 GOLD LION RESOURCES to buy it.

Moving together with GOLD Stock

+0.63NGLBAnglo American PlcPairCorr
+0.725LA1American Lithium CorpPairCorr

Moving against GOLD Stock

-0.61LISLiontown ResourcesPairCorr
-0.43DBPEXtrackers - LevDAXPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
YT2A
+ 0.82
8P8
HPI2
+ 0.74
2T8
2T8
+ 0.73
8P8
HPI2
+ 0.65
8P8
22E
+ 0.6
XFB
8P8
+ 0.56
YE42
  
High negative correlations   
2T8
- 0.79
XFB
XFB
- 0.6
8P8
HPI2
- 0.58
XFB
YT2A
- 0.55
XFB
22E
- 0.51
2T8
YT2A
- 0.45
22E

Risk-Adjusted Indicators

Nowadays, there is a big difference between GOLD Stock performing well and GOLD LION company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze GOLD LION's multiple risk-adjusted performance indicators. 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		Information
Ratio		Expected
Shortfall		Potential
Upside		Value
At Risk		Maximum
Drawdown
5RH 0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 
YE42 1.73  0.38  0.11  1.53  1.85  0.13 (3.95)  6.90 (4.10)  17.82 
8P8 1.48  0.17  0.12  0.62  1.72  0.11 (1.69)  3.33 (3.04)  9.02 
XFB 1.55 (0.14)  0.00  0.54  0.00 (0.0263)  0.00  3.82 (3.18)  9.21 
2T8 2.19  0.43  0.18  2.05  2.32  0.16 (2.56)  4.40 (3.76)  20.92 
HPI2 1.28  0.07  0.07  10.84  1.29  0.08 (2.19)  4.17 (2.82)  8.69 
22E 2.09  0.13  0.05  0.16  3.31  0.05 (2.19)  4.25 (2.75)  20.44 
YT2A 0.97  0.00  0.00 (0.10)  0.00  0.0432  0.00  2.15 (2.20)  5.65 

Be your own money manager

Our tools can tell you how much better you can do entering a position in GOLD LION 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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The danger of trading GOLD LION RESOURCES is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of GOLD LION is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than GOLD LION. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile GOLD LION RESOURCES is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios. You can also try Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.

Complementary Tools for GOLD Stock analysis

When running GOLD LION's price analysis, check to measure GOLD LION'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 GOLD LION is operating at the current time. Most of GOLD LION's value examination focuses on studying past and present price action to predict the probability of GOLD LION's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move GOLD LION's price. Additionally, you may evaluate how the addition of GOLD LION to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between GOLD LION's value and its price as these two are different measures arrived at by different means. Investors typically determine if GOLD LION is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GOLD LION's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party. Check out Trending Equities to better understand how to build diversified portfolios.
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