Golden Pursuit Correlations

GDP Stock

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The current 90-days correlation between Golden Pursuit Resources and Rubicon Organics is -0.17 (i.e., Good diversification). The correlation of Golden Pursuit 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.

Golden Pursuit Correlation With Market

Good diversification

The correlation between Golden Pursuit Resources and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Pursuit Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Golden Pursuit 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 Pursuit 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 Pursuit - 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 Pursuit Resources to buy it.

Moving against Golden Stock

0.58	IE	Ivanhoe Energy	Pair Corr
0.49	FDY	Faraday Copper Corp	Pair Corr
0.46	ELF	E L Financial	Pair Corr
0.43	FFH	Fairfax Financial	Pair Corr
0.41	AG	First Majestic Silver	Pair Corr
0.37	FFH-PC	Fairfax Fin Hld	Pair Corr

Related Correlations Analysis

	ASTL	CIA	IZ	ERE-UN	FTN-PA	ROMJ	VO	LNR	AMZN	FHE
ASTL		-0.39	-0.66	0.6	0.71	-0.5	0.03	-0.46	0.69	0.26	ASTL
CIA	-0.39		0.6	-0.05	-0.35	0.04	0.2	0.56	-0.25	0.2	CIA
IZ	-0.66	0.6		-0.42	-0.55	0.3	0.09	0.3	-0.42	0.02	IZ
ERE-UN	0.6	-0.05	-0.42		0.84	-0.8	0.3	-0.05	0.87	0.63	ERE-UN
FTN-PA	0.71	-0.35	-0.55	0.84		-0.8	0.38	-0.3	0.81	0.6	FTN-PA
ROMJ	-0.5	0.04	0.3	-0.8	-0.8		-0.56	0.16	-0.72	-0.78	ROMJ
VO	0.03	0.2	0.09	0.3	0.38	-0.56		-0.14	0.34	0.81	VO
LNR	-0.46	0.56	0.3	-0.05	-0.3	0.16	-0.14		-0.37	-0.22	LNR
AMZN	0.69	-0.25	-0.42	0.87	0.81	-0.72	0.34	-0.37		0.62	AMZN
FHE	0.26	0.2	0.02	0.63	0.6	-0.78	0.81	-0.22	0.62		FHE
	ASTL	CIA	IZ	ERE-UN	FTN-PA	ROMJ	VO	LNR	AMZN	FHE

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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

AMZN	+ 0.87	ERE-UN
FTN-PA	+ 0.84	ERE-UN
AMZN	+ 0.81	FTN-PA
FHE	+ 0.81	VO
FTN-PA	+ 0.71	ASTL
AMZN	+ 0.69	ASTL

High negative correlations

ROMJ	- 0.8	FTN-PA
ROMJ	- 0.8	ERE-UN
FHE	- 0.78	ROMJ
AMZN	- 0.72	ROMJ
IZ	- 0.66	ASTL
VO	- 0.56	ROMJ

Risk-Adjusted Indicators

There is a big difference between Golden Stock performing well and Golden Pursuit 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 Pursuit'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
ASTL	1.70	(0.05)	0.01	0.09	1.84	(1.85)	4.54	(3.26)	12.55
CIA	2.35	(0.21)	0.00	(0.06)	0.00	0.00	4.57	(4.08)	15.66
IZ	6.18	0.66	0.00	(0.02)	7.95	(20.48)	25.00	(20.00)	58.33
ERE-UN	1.42	0.31	0.29	0.30	0.76	(1.88)	3.40	(1.58)	20.23
FTN-PA	0.18	0.08	(0.36)	(1.33)	0.00	(0.27)	0.48	(0.20)	1.71
ROMJ	2.97	(0.38)	0.00	(0.53)	0.00	0.00	7.50	(6.52)	27.78
VO	7.34	0.54	0.07	0.28	6.82	(18.30)	20.00	(16.67)	56.67
LNR	1.21	(0.09)	0.00	(0.07)	0.00	0.00	1.83	(2.63)	10.57
AMZN	1.41	0.22	0.10	0.48	1.46	(1.59)	3.21	(2.97)	10.08
FHE	0.13	0.05	0.00	(0.53)	0.00	0.00	0.35	0.00	2.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Golden Pursuit 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.

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