Patagonia Gold Correlations

PGDC Stock  CAD 0.02  0.00  0.00%   
The current 90-days correlation between Patagonia Gold Corp and Strikepoint Gold is 0.13 (i.e., Average diversification). The correlation of Patagonia 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Patagonia Gold Correlation With Market

Good diversification

The correlation between Patagonia Gold Corp and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Patagonia Gold Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Patagonia 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 Patagonia 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 Patagonia 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 Patagonia Gold Corp to buy it.

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Patagonia Stock performing well and Patagonia 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 Patagonia 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 Patagonia 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?

Run Portfolio Volatility Now

   

Portfolio Volatility

Check portfolio volatility and analyze historical return density to properly model market risk
All  Next Launch Module

Patagonia Gold Corporate Management

Elected by the shareholders, the Patagonia Gold's board of directors comprises two types of representatives: Patagonia Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Patagonia. The board's role is to monitor Patagonia Gold's management team and ensure that shareholders' interests are well served. Patagonia Gold's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Patagonia Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.