Freegold Ventures Correlations
| FVL Stock | CAD 0.70 0.01 1.41% |
The current 90-days correlation between Freegold Ventures and Dolly Varden Silver is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Freegold Ventures moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Freegold Ventures Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Freegold Ventures Correlation With Market
Average diversification
The correlation between Freegold Ventures Limited and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freegold Ventures Limited and DJI in the same portfolio, assuming nothing else is changed.
Freegold |
The ability to find closely correlated positions to Freegold Ventures could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Freegold Ventures 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 Freegold Ventures - 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 Freegold Ventures Limited to buy it.
Moving together with Freegold Stock
| 0.82 | ORE | Orezone Gold Corp | PairCorr |
| 0.76 | INFM | Infinico Metals Corp | PairCorr |
| 0.67 | TKU | Tarku Resources | PairCorr |
Moving against Freegold Stock
| 0.93 | FFH | Fairfax Financial | PairCorr |
| 0.86 | TCS | TECSYS Inc | PairCorr |
| 0.85 | EIT-UN | Canoe EIT Income | PairCorr |
| 0.82 | ENS-PA | E Split Corp | PairCorr |
| 0.82 | ERE-UN | European Residential Real | PairCorr |
| 0.8 | DBO | D Box Technologies | PairCorr |
| 0.78 | DGS | Dividend Growth Split | PairCorr |
| 0.77 | OM | Osisko Metals | PairCorr |
| 0.73 | ET | Evertz Technologies | PairCorr |
| 0.7 | DFN | Dividend 15 Split | PairCorr |
| 0.69 | PEY | Peyto ExplorationDevel | PairCorr |
| 0.68 | ORA | Aura Minerals | PairCorr |
| 0.66 | FSZ | Fiera Capital | PairCorr |
| 0.64 | VBNK | VersaBank | PairCorr |
| 0.56 | CGG | China Gold International | PairCorr |
| 0.54 | LAC | Lithium Americas Corp | PairCorr |
| 0.48 | NPTH | NeuPath Health | PairCorr |
| 0.31 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.92 | VLE | Valeura Energy | PairCorr |
| 0.91 | CRM | SalesforceCom CDR | PairCorr |
| 0.91 | HUT | Hut 8 Mining | PairCorr |
| 0.9 | Y | Yellow Pages Limited | PairCorr |
| 0.86 | NOA | North American Const | PairCorr |
| 0.85 | RY-PM | Royal Bank | PairCorr |
| 0.83 | FFH-PH | Fairfax Financial | PairCorr |
| 0.82 | FFH-PF | Fairfax Financial | PairCorr |
| 0.78 | RY | Royal Bank | PairCorr |
| 0.77 | PRU | Perseus Mining | PairCorr |
| 0.77 | ENS | E Split Corp | PairCorr |
| 0.72 | NICU | Magna Mining | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Freegold Stock performing well and Freegold Ventures 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 Freegold Ventures' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TUO | 2.09 | (0.42) | 0.00 | 1.33 | 0.00 | 4.72 | 17.47 | |||
| DV | 2.86 | (0.20) | 0.00 | (0.13) | 0.00 | 5.50 | 13.24 | |||
| GWM | 4.67 | (0.41) | 0.00 | (0.56) | 0.00 | 9.76 | 22.20 | |||
| LGD | 2.80 | (0.38) | 0.00 | 1.87 | 0.00 | 6.67 | 20.09 | |||
| GGD | 2.95 | (0.16) | 0.00 | (0.14) | 0.00 | 6.67 | 17.66 |
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Freegold Ventures Corporate Management
Elected by the shareholders, the Freegold Ventures' board of directors comprises two types of representatives: Freegold Ventures inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Freegold. The board's role is to monitor Freegold Ventures' management team and ensure that shareholders' interests are well served. Freegold Ventures' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Freegold Ventures' outside directors are responsible for providing unbiased perspectives on the board's policies.