Gemfields Group Correlations

PLLHF Stock

USD 0.10 0.00 0.00%

The current 90-days correlation between Gemfields Group and GoGold Resources is 0.14 (i.e., Average diversification). The correlation of Gemfields Group 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.

Gemfields Group Correlation With Market

Good diversification

The correlation between Gemfields Group Limited 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 Gemfields Group Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gemfields Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gemfields Group 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 Gemfields Group - 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 Gemfields Group Limited to buy it.

Moving against Gemfields Pink Sheet

0.61	FSTF	First State Financial	Pair Corr
0.38	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.36	DIS	Walt Disney Sell-off Trend	Pair Corr
0.32	BAC	Bank of America Aggressive Push	Pair Corr
0.31	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.31	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	STRFF	DNCVF	DFIFF	GLGDF	ESGLF	TEUTF	MRZLF	MSLVF	MNMRF	SWLFF
STRFF		0.49	-0.11	0.57	-0.04	0.39	-0.21	-0.46	-0.13	0.41	STRFF
DNCVF	0.49		0.28	0.75	0.09	0.71	0.39	-0.06	0.2	0.38	DNCVF
DFIFF	-0.11	0.28		0.4	0.31	-0.01	0.2	0.14	0.19	0.08	DFIFF
GLGDF	0.57	0.75	0.4		0.28	0.53	0.06	-0.47	-0.2	0.65	GLGDF
ESGLF	-0.04	0.09	0.31	0.28		0.29	-0.14	0.21	-0.28	0.12	ESGLF
TEUTF	0.39	0.71	-0.01	0.53	0.29		0.39	0.16	0.04	0.38	TEUTF
MRZLF	-0.21	0.39	0.2	0.06	-0.14	0.39		0.44	0.48	-0.04	MRZLF
MSLVF	-0.46	-0.06	0.14	-0.47	0.21	0.16	0.44		0.48	-0.59	MSLVF
MNMRF	-0.13	0.2	0.19	-0.2	-0.28	0.04	0.48	0.48		-0.41	MNMRF
SWLFF	0.41	0.38	0.08	0.65	0.12	0.38	-0.04	-0.59	-0.41		SWLFF
	STRFF	DNCVF	DFIFF	GLGDF	ESGLF	TEUTF	MRZLF	MSLVF	MNMRF	SWLFF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GLGDF	+ 0.75	DNCVF
TEUTF	+ 0.71	DNCVF
SWLFF	+ 0.65	GLGDF
GLGDF	+ 0.57	STRFF
TEUTF	+ 0.53	GLGDF
DNCVF	+ 0.49	STRFF

High negative correlations

SWLFF	- 0.59	MSLVF
MSLVF	- 0.47	GLGDF
MSLVF	- 0.46	STRFF
SWLFF	- 0.41	MNMRF
MNMRF	- 0.28	ESGLF
MRZLF	- 0.21	STRFF

Risk-Adjusted Indicators

There is a big difference between Gemfields Pink Sheet performing well and Gemfields Group 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 Gemfields Group'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
STRFF	2.01	0.12	0.00	3.56	2.18	(6.78)	5.26	(4.76)	22.94
DNCVF	4.88	0.24	0.00	0.03	0.00	0.00	12.50	(10.53)	30.15
DFIFF	1.71	(0.14)	0.00	0.46	0.00	0.00	0.50	(11.89)	37.71
GLGDF	3.18	(0.01)	(0.01)	0.11	3.25	(4.12)	8.14	(5.50)	19.37
ESGLF	4.41	0.86	0.09	0.64	4.83	(10.15)	16.33	(9.14)	62.23
TEUTF	2.67	(0.05)	0.00	(0.17)	0.00	0.00	5.32	(5.68)	26.38
MRZLF	3.16	0.03	(0.01)	0.27	4.11	(7.51)	9.09	(8.57)	45.08
MSLVF	2.69	(0.80)	0.00	(0.56)	0.00	0.00	0.00	0.00	67.00
MNMRF	10.35	1.15	0.04	(3.02)	12.93	(18.14)	24.84	(26.65)	107.03
SWLFF	5.14	0.89	0.08	2.51	5.00	(11.54)	16.67	(9.09)	44.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gemfields Group 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?

Run Money Managers Now

Money Managers

Screen money managers from public funds and ETFs managed around the world

All Next

Launch Module

Gemfields Group Corporate Management

Toby Hewitt	Group Sec	Profile
BCom ACA	CFO Director	Profile
Dewald Blom	Chief Officer	Profile
Sean BSc	CEO Director	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC