Golden Energy Correlations

GEOUF Stock

USD 3.30 0.00 0.00%

The current 90-days correlation between Golden Energy Offshore and EuroDry is 0.05 (i.e., Significant diversification). The correlation of Golden Energy 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.

Golden Energy Correlation With Market

Significant diversification

The correlation between Golden Energy Offshore and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Energy Offshore and NYA in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Golden Energy 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 Energy 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 Energy - 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 Energy Offshore to buy it.

Moving together with Golden OTC Stock

0.76	HPGLY	Hapag Lloyd Aktienge	Pair Corr
0.76	HLAGF	Hapag-Lloyd Aktiengesellscha	Pair Corr
0.93	AMKBY	AP Moeller Maersk	Pair Corr
0.92	AMKBF	AP Mller	Pair Corr
0.89	AMKAF	AP Moeller	Pair Corr
0.91	CICOF	COSCO SHIPPING Holdings	Pair Corr
0.91	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.8	NPNYY	Nippon Yusen Kabushiki	Pair Corr
0.7	OROVF	Orient Overseas	Pair Corr
0.97	AMCCF	Amcor plc	Pair Corr
0.68	ORGN	Origin Materials	Pair Corr
0.85	MATX	Matson Inc	Pair Corr
0.69	MGRX	Mangoceuticals Common	Pair Corr
0.73	MMM	3M Company Sell-off Trend	Pair Corr
0.79	OGEN	Oragenics	Pair Corr
0.76	PRU	Prudential Financial	Pair Corr
0.69	CCJ	Cameco Corp	Pair Corr
0.88	WMT	Walmart Aggressive Push	Pair Corr
0.8	GME	GameStop Corp Earnings Call Today	Pair Corr
0.88	AAPL	Apple Inc Financial Report 1st of August 2024	Pair Corr
0.84	FFIE	Faraday Future Intel	Pair Corr
0.73	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.75	AM	Antero Midstream Partners	Pair Corr
0.66	AN	AutoNation	Pair Corr
0.68	SCHW-PD	Charles Schwab	Pair Corr

Moving against Golden OTC Stock

0.79	GRNTF	iPath Global Carbon	Pair Corr
0.75	GPOVF	Grupo Carso SAB	Pair Corr
0.73	UIS	Unisys	Pair Corr

Related Correlations Analysis

	WSSTF	AMKAF	PXSAP	EDRY	NPNYY	PXS	ESEA	CPLP	PCFBF
WSSTF		0.19	0.05	-0.28	0.08	-0.04	0.14	-0.4	0.08	WSSTF
AMKAF	0.19		0.8	0.08	0.7	0.75	0.53	0.05	0.83	AMKAF
PXSAP	0.05	0.8		0.16	0.66	0.86	0.62	-0.02	0.81	PXSAP
EDRY	-0.28	0.08	0.16		0.67	0.19	0.43	0.6	0.32	EDRY
NPNYY	0.08	0.7	0.66	0.67		0.61	0.72	0.38	0.79	NPNYY
PXS	-0.04	0.75	0.86	0.19	0.61		0.57	0.1	0.79	PXS
ESEA	0.14	0.53	0.62	0.43	0.72	0.57		0.12	0.72	ESEA
CPLP	-0.4	0.05	-0.02	0.6	0.38	0.1	0.12		0.02	CPLP
PCFBF	0.08	0.83	0.81	0.32	0.79	0.79	0.72	0.02		PCFBF
	WSSTF	AMKAF	PXSAP	EDRY	NPNYY	PXS	ESEA	CPLP	PCFBF

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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

PXS	+ 0.86	PXSAP
PCFBF	+ 0.83	AMKAF
PCFBF	+ 0.81	PXSAP
PXSAP	+ 0.8	AMKAF
PCFBF	+ 0.79	NPNYY
PCFBF	+ 0.79	PXS

High negative correlations

CPLP	- 0.4	WSSTF
EDRY	- 0.28	WSSTF
PXS	- 0.04	WSSTF
CPLP	- 0.02	PXSAP

Risk-Adjusted Indicators

There is a big difference between Golden OTC Stock performing well and Golden Energy 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 Golden Energy'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
WSSTF	0.10	(0.03)	0.00	0.56	0.00	0.00	0.00	0.00	3.33
AMKAF	2.53	0.42	0.11	(0.27)	2.64	(3.50)	8.90	(4.45)	20.53
PXSAP	0.28	0.04	0.09	0.64	0.25	(0.33)	0.65	(0.53)	2.21
EDRY	1.15	(0.05)	0.00	(2.08)	0.00	0.00	2.16	(2.22)	6.50
NPNYY	1.69	0.06	0.02	(0.57)	2.05	(1.82)	3.70	(3.37)	9.33
PXS	1.35	0.26	0.18	(0.76)	1.15	(1.80)	3.78	(2.25)	9.45
ESEA	1.96	0.09	0.04	0.07	2.49	(2.01)	3.31	(4.26)	14.29
CPLP	1.51	0.07	0.04	0.22	1.64	(1.80)	3.25	(2.52)	9.60
PCFBF	1.11	0.33	0.00	0.69	0.00	0.00	3.33	(2.94)	16.27

Be your own money manager

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