Golden Minerals Correlations
| AUMN Stock | CAD 0.14 0.01 6.67% |
The current 90-days correlation between Golden Minerals and Lupaka Gold Corp is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Golden Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Minerals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Golden Minerals Correlation With Market
Modest diversification
The correlation between Golden Minerals and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Minerals and DJI in the same portfolio, assuming nothing else is changed.
Golden |
The ability to find closely correlated positions to Golden Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Golden Minerals 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 Golden Minerals - 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 Golden Minerals to buy it.
Moving together with Golden Stock
| 0.69 | AG | First Majestic Silver | PairCorr |
| 0.82 | IE | Ivanhoe Energy | PairCorr |
| 0.72 | FDY | Faraday Copper Corp | PairCorr |
Moving against Golden Stock
| 0.74 | QNC | Quantum Numbers | PairCorr |
| 0.71 | DBO | D Box Technologies | PairCorr |
| 0.68 | OM | Osisko Metals | PairCorr |
| 0.67 | AQN-PD | Algonquin Power Utilities | PairCorr |
| 0.66 | ENB-PH | Enbridge H Cum | PairCorr |
| 0.59 | FFH-PE | Fairfax Financial | PairCorr |
| 0.59 | FFH-PG | Fairfax Fin Hld | PairCorr |
| 0.57 | FFH-PI | Fairfax Financial | PairCorr |
| 0.56 | FFH-PH | Fairfax Financial | PairCorr |
| 0.55 | FFH-PK | Fairfax Financial | PairCorr |
| 0.55 | FFH-PF | Fairfax Financial | PairCorr |
| 0.45 | RX | Biosyent | PairCorr |
| 0.42 | FFH | Fairfax Financial | PairCorr |
| 0.41 | FFH-PC | Fairfax Fin Hld | PairCorr |
| 0.35 | NICU | Magna Mining | PairCorr |
| 0.35 | HUT | Hut 8 Mining | PairCorr |
| 0.79 | BRY | Bri Chem Corp | PairCorr |
| 0.69 | NPTH | NeuPath Health | PairCorr |
| 0.69 | TCS | TECSYS Inc | PairCorr |
| 0.68 | AAPL | Apple Inc CDR | PairCorr |
| 0.57 | ERE-UN | European Residential Real | PairCorr |
| 0.55 | PRU | Perseus Mining | PairCorr |
| 0.54 | VLE | Valeura Energy | PairCorr |
| 0.52 | NOA | North American Const | PairCorr |
Related Correlations Analysis
| -0.59 | -0.19 | -0.33 | -0.29 | TSG | ||
| -0.59 | 0.22 | 0.12 | 0.37 | TMQ | ||
| -0.19 | 0.22 | 0.26 | 0.08 | HAN | ||
| -0.33 | 0.12 | 0.26 | 0.34 | LPK | ||
| -0.29 | 0.37 | 0.08 | 0.34 | NCF | ||
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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 Golden Stock performing well and Golden Minerals 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 Golden Minerals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TSG | 5.48 | (0.39) | 0.00 | 0.65 | 0.00 | 10.00 | 35.26 | |||
| TMQ | 6.67 | 2.01 | 0.36 | 0.81 | 4.31 | 14.38 | 121.38 | |||
| HAN | 4.87 | 0.41 | 0.07 | (1.67) | 4.72 | 10.34 | 25.61 | |||
| LPK | 2.00 | 0.35 | 0.00 | 0.29 | 0.00 | 14.29 | 45.00 | |||
| NCF | 9.72 | 1.33 | 0.07 | (4.11) | 9.88 | 20.00 | 85.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Golden Minerals 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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Golden Minerals Corporate Executives
Elected by the shareholders, the Golden Minerals' board of directors comprises two types of representatives: Golden Minerals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Golden. The board's role is to monitor Golden Minerals' management team and ensure that shareholders' interests are well served. Golden Minerals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Golden Minerals' outside directors are responsible for providing unbiased perspectives on the board's policies.