Wesdome Gold Correlations
| WDOFF Stock | USD 8.69 0.06 0.70% |
The correlation of Wesdome Gold 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.
Wesdome Gold Correlation With Market
Significant diversification
The correlation between Wesdome Gold Mines and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wesdome Gold Mines and DJI in the same portfolio, assuming nothing else is changed.
Wesdome |
The ability to find closely correlated positions to Wesdome Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wesdome Gold 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 Wesdome Gold - 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 Wesdome Gold Mines to buy it.
Moving together with Wesdome OTC Stock
| 0.69 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.81 | BKRKY | Bank Rakyat | PairCorr |
| 0.89 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.7 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.83 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.68 | PBCRY | Bank Central Asia | PairCorr |
| 0.79 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.68 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.75 | PFE | Pfizer Inc Aggressive Push | PairCorr |
Moving against Wesdome OTC Stock
| 0.64 | ATCOL | Atlas Corp | PairCorr |
| 0.64 | SSNLF | Samsung Electronics | PairCorr |
| 0.57 | PTAIF | PT Astra International | PairCorr |
| 0.55 | PCTTW | PureCycle Technologies | PairCorr |
| 0.45 | GCMGW | GCM Grosvenor | PairCorr |
| 0.43 | ASTSW | AST SpaceMobile | PairCorr |
| 0.73 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.73 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.71 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.65 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.63 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.59 | WMT | Walmart Aggressive Push | PairCorr |
| 0.57 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.52 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.51 | HPQ | HP Inc | PairCorr |
| 0.48 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.44 | HD | Home Depot | PairCorr |
Related Correlations Analysis
| 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
|
Risk-Adjusted Indicators
There is a big difference between Wesdome OTC Stock performing well and Wesdome Gold 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 Wesdome Gold'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VITFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CGLCF | 3.29 | (0.54) | 0.00 | (1.26) | 0.00 | 6.25 | 18.01 | |||
| LGDTF | 3.12 | (0.41) | 0.00 | 6.77 | 0.00 | 4.76 | 18.80 | |||
| TSRMF | 4.15 | 0.59 | 0.05 | (0.37) | 3.99 | 7.14 | 26.25 | |||
| MGDPF | 2.37 | (0.13) | 0.00 | (0.04) | 0.00 | 5.66 | 13.61 | |||
| IAUX | 4.73 | (0.32) | 0.00 | (0.14) | 0.00 | 10.28 | 66.32 | |||
| KRRGF | 1.69 | 0.31 | 0.09 | 1.20 | 2.00 | 3.44 | 11.18 | |||
| OSIIF | 0.70 | 0.06 | (0.01) | 0.29 | 0.83 | 1.60 | 6.84 | |||
| KNTNF | 2.19 | 0.39 | 0.08 | (1.17) | 2.29 | 5.11 | 22.74 | |||
| EQX | 2.44 | 0.01 | (0.02) | 0.14 | 2.91 | 5.70 | 18.48 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Wesdome Gold 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 Sync Your Broker Now
Sync Your BrokerSync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |
| All Next | Launch Module |
Wesdome Gold Corporate Management
Elected by the shareholders, the Wesdome Gold's board of directors comprises two types of representatives: Wesdome Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wesdome. The board's role is to monitor Wesdome Gold's management team and ensure that shareholders' interests are well served. Wesdome Gold's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Wesdome Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Frederic MercierLangevin | Chief Officer | Profile | |
| MSc PGeo | Chief Mine | Profile | |
| Stacy Kimmett | VP HR | Profile | |
| Joanna Miller | VP Environment | Profile | |
| Rajbir Gill | VP Devel | Profile | |
| Duncan PEng | CEO Pres | Profile |