Giga Metals Correlations
| HNCKFDelisted Stock | USD 0.19 0.01 5.56% |
The current 90-days correlation between Giga Metals and Giga Metals Corp is -0.18 (i.e., Good diversification). The correlation of Giga Metals 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.
Giga Metals Correlation With Market
Good diversification
The correlation between Giga Metals and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Giga Metals and DJI in the same portfolio, assuming nothing else is changed.
Giga |
The ability to find closely correlated positions to Giga Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Giga Metals 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 Giga Metals - 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 Giga Metals to buy it.
Moving together with Giga OTC Stock
| 0.62 | CHKEL | Chesapeake Energy Symbol Change | PairCorr |
| 0.61 | CHKEZ | Chesapeake Energy Symbol Change | PairCorr |
| 0.74 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.63 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.74 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
Moving against Giga OTC Stock
| 0.74 | NVDA | NVIDIA | PairCorr |
| 0.72 | ATCOL | Atlas Corp | PairCorr |
| 0.69 | ASTSW | AST SpaceMobile | PairCorr |
| 0.69 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.66 | PCTTW | PureCycle Technologies | PairCorr |
| 0.64 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.58 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.54 | GCMGW | GCM Grosvenor | PairCorr |
| 0.47 | AAPL | Apple Inc Aggressive Push | PairCorr |
| 0.44 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.74 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.72 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.72 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.65 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.63 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.62 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.6 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.45 | HD | Home Depot | PairCorr |
| 0.44 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
Related Correlations Analysis
| 0.34 | 0.53 | 0.84 | 0.57 | CNIKF | ||
| 0.34 | 0.07 | 0.34 | -0.01 | GIGA | ||
| 0.53 | 0.07 | 0.48 | 0.42 | TLOFF | ||
| 0.84 | 0.34 | 0.48 | 0.48 | FPOCF | ||
| 0.57 | -0.01 | 0.42 | 0.48 | MNXXF | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Giga OTC Stock performing well and Giga Metals 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 Giga Metals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CNIKF | 1.84 | (0.30) | 0.00 | (0.29) | 0.00 | 3.80 | 14.46 | |||
| GIGA | 3.74 | (0.02) | 0.00 | 0.14 | 0.00 | 8.33 | 23.72 | |||
| TLOFF | 3.50 | 0.06 | (0.02) | (0.03) | 4.76 | 8.06 | 26.62 | |||
| FPOCF | 2.81 | 0.05 | (0.01) | 0.27 | 3.08 | 10.00 | 20.53 | |||
| MNXXF | 8.26 | 0.24 | 0.00 | (0.19) | 9.79 | 16.67 | 65.40 |
Giga Metals Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Giga Metals otc stock to make a market-neutral strategy. Peer analysis of Giga Metals could also be used in its relative valuation, which is a method of valuing Giga Metals by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Giga Metals?
Investing in delisted otcs can be risky, as the otc stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.