Wesdome Gold Correlations
| WDOFF Stock | USD 7.95 0.20 2.58% |
The current 90-days correlation between Wesdome Gold Mines and Omineca Mining and is 0.24 (i.e., Modest diversification). The correlation of Wesdome 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.
Wesdome Gold Correlation With Market
Weak diversification
The correlation between Wesdome Gold Mines and NYA is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wesdome Gold Mines and NYA in the same portfolio, assuming nothing else is changed.
Wesdome |
The ability to find closely correlated positions to Wesdome 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 Wesdome 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 Wesdome 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 Wesdome Gold Mines to buy it.
Moving together with Wesdome OTC Stock
Moving against Wesdome OTC Stock
| 0.62 | YUMM | Yummies | PairCorr |
| 0.6 | PCTTW | PureCycle Technologies | PairCorr |
| 0.55 | URYL | United Royale Holdings | PairCorr |
| 0.45 | GOEVW | Canoo Holdings | PairCorr |
| 0.45 | BIMT | Bitmis Corp | PairCorr |
| 0.43 | AAGH | America Great Health | PairCorr |
| 0.59 | HD | Home Depot | PairCorr |
| 0.58 | INTC | Intel Financial Report 25th of July 2024 | PairCorr |
| 0.51 | MCD | McDonalds Financial Report 25th of July 2024 | PairCorr |
| 0.5 | IBM | International Business Financial Report 17th of July 2024 | PairCorr |
| 0.4 | TRV | The Travelers Companies Financial Report 18th of July 2024 | PairCorr |
| 0.38 | CSCO | Cisco Systems Financial Report 21st of August 2024 | PairCorr |
| 0.35 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Wesdome OTC Stock performing well and Wesdome Gold OTC Stock 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 Wesdome 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OMMSF | 6.15 | 0.41 | 0.06 | 0.31 | 6.12 | 14.57 | 51.94 | |||
| BBSRF | 5.23 | (0.49) | 0.00 | (0.80) | 0.00 | 10.34 | 42.39 | |||
| ELEMF | 1.51 | (0.08) | 0.00 | 0.28 | 0.00 | 2.44 | 12.27 | |||
| AURQF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Wesdome 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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Wesdome Gold Corporate Management
Elected by the shareholders, the Wesdome Gold's board of directors comprises two types of representatives: Wesdome Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wesdome. The board's role is to monitor Wesdome Gold's management team and ensure that shareholders' interests are well served. Wesdome 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, Wesdome Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Frederic MercierLangevin | Chief Officer | Profile | |
| MSc PGeo | Chief Mine | Profile | |
| Stacy Kimmett | VP HR | Profile | |
| Joanna Miller | VP Environment | Profile | |
| Rajbir Gill | VP Devel | Profile | |
| Duncan PEng | CEO Pres | Profile |