GoGold Resources Correlations

Stocks . Canada . 
Stock . GoGold Resources
GGD Stock  CAD 2.09  0.02  0.95%   
The correlation of GoGold Resources 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 GoGold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoGold 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.
Check out Risk vs Return Analysis.
  
The ability to find closely correlated positions to GoGold Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoGold Resources 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 GoGold Resources - 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 GoGold Resources to buy it.

Moving together with GoGold Resources

+0.88NGNovaGold Resources Earnings Call This WeekPairCorr
+0.85MOZMarathon GoldPairCorr

Moving against GoGold Resources

-0.48DPMDundee Precious MetalsPairCorr
-0.46GBUGabriel Resources Earnings Call This WeekPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
CGG
+ 0.74
ARIS
LUC
+ 0.73
ARIS
ORV
+ 0.73
BCM
CGG
+ 0.67
PPTA
SNG
+ 0.67
BCM
ORV
+ 0.6
ASM
  
High negative correlations   
SNG
- 0.49
PPTA
BCM
- 0.47
PPTA
CGG
- 0.44
SNG
CGG
- 0.22
BCM
SNG
- 0.22
ARIS
ORV
- 0.08
PPTA

Risk-Adjusted Indicators

Nowadays, there is a big difference between GoGold Stock performing well and GoGold Resources 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 GoGold Resources' 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
ASM 2.25  0.43  0.14 (3.05)  2.31  0.14 (3.10)  5.38 (3.77)  14.53 
PPTA 2.78  0.75  0.17  1.12  3.29  0.18 (3.05)  9.64 (4.27)  17.90 
ARIS 2.17  0.36  0.15 (3.79)  2.06  0.12 (2.67)  5.64 (3.59)  14.81 
BCM 3.19 (0.20)  0.00  1.33  0.00 (0.05)  0.00  5.00 (6.06)  24.76 
DIAM 4.40  0.50  0.05  0.41  4.65  0.07 (10.20)  11.11 (10.00)  52.88 
LUC 2.43  0.06  0.02  0.10  2.83  0.0186 (2.95)  5.00 (5.00)  16.38 
SNG 3.80 (0.11)  0.00  0.19  0.00 (0.0202)  0.00  8.33 (12.50)  28.57 
CGG 1.98  0.38  0.12 (5.65)  2.58  0.14 (2.19)  4.59 (4.30)  16.18 
ORV 3.02  0.17  0.03 (0.18)  3.37  0.034 (6.40)  9.52 (5.56)  21.11 

Be your own money manager

Our tools can tell you how much better you can do entering a position in GoGold Resources 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?

Run Global Markets Map Now

   

Global Markets Map

Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes
All  Next Launch Module

GoGold Resources Corporate Directors

GoGold Resources corporate directors refer to members of a GoGold Resources board of directors. The board of directors generally takes responsibility for the GoGold Resources' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of GoGold Resources' board members must vote for the resolution. The GoGold Resources board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Terrence CooperIndependent DirectorProfile
Phillip GaunceIndependent DirectorProfile
George WayeIndependent DirectorProfile
Dana HatfieldCFO, DirectorProfile

Already Invested in GoGold Resources?

The danger of trading GoGold 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 GoGold Resources 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 GoGold Resources. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile GoGold 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 Risk vs Return Analysis. You can also try ETF Directory module to find actively traded Exchange Traded Funds (ETF) from around the world.

Complementary Tools for analysis

When running GoGold Resources price analysis, check to measure GoGold Resources' 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 GoGold Resources is operating at the current time. Most of GoGold Resources' value examination focuses on studying past and present price action to predict the probability of GoGold Resources' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move GoGold Resources' price. Additionally, you may evaluate how the addition of GoGold Resources to your portfolios can decrease your overall portfolio volatility.
Share Portfolio
Track or share privately all of your investments from the convenience of any device
Money Flow Index
Determine momentum by analyzing Money Flow Index and other technical indicators
Financial Widgets
Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets
Competition Analyzer
Analyze and compare many basic indicators for a group of related or unrelated entities
Portfolio Suggestion
Get suggestions outside of your existing asset allocation including your own model portfolios
Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
Global Markets Map
Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes
Probability Of Bankruptcy
Get analysis of equity chance of financial distress in the next 2 years
Price Ceiling Movement
Calculate and plot Price Ceiling Movement for different equity instruments
Portfolio File Import
Quickly import all of your third-party portfolios from your local drive in csv format
Headlines Timeline
Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
Performance Analysis
Check effects of mean-variance optimization against your current asset allocation
Theme Ratings
Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance
Altman
Z Score
Details
Intrinsic
Valuation
Details
Financial
Analysis
Details
Buy or Sell
Advice
Details
Technical
Analysis
Details
Please note, there is a significant difference between GoGold Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine GoGold Resources value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GoGold Resources' 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.
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2023 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY