Taseko Mines Correlations
| TGB Stock | USD 2.57 0.02 0.78% |
The correlation of Taseko Mines 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Taseko Mines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taseko Mines moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Taseko Mines and NYA is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taseko Mines and NYA in the same portfolio, assuming nothing else is changed.
Taseko |
The ability to find closely correlated positions to Taseko Mines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taseko Mines 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 Taseko Mines - 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 Taseko Mines to buy it.
Moving together with Taseko Stock
| 0.91 | IE | Ivanhoe Electric Financial Report 20th of May 2024 | PairCorr |
| 0.94 | ERO | Ero Copper Corp | PairCorr |
| 0.99 | FCX | Freeport McMoran Copper Aggressive Push | PairCorr |
| 0.96 | HBM | Hudbay Minerals Earnings Call Today | PairCorr |
| 0.82 | MTAL | Metals Acquisition | PairCorr |
| 0.97 | SCCO | Southern Copper | PairCorr |
| 0.98 | AA | Alcoa Corp Buyout Trend | PairCorr |
| 0.94 | AG | First Majestic Silver | PairCorr |
| 0.89 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
| 0.89 | DC | Dakota Gold Corp | PairCorr |
| 0.85 | DD | Dupont De Nemours Financial Report 7th of August 2024 | PairCorr |
| 0.9 | FF | FutureFuel Corp | PairCorr |
| 0.95 | HL | Hecla Mining Earnings Call This Week | PairCorr |
Moving against Taseko Stock
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Taseko Stock performing well and Taseko Mines 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 Taseko Mines' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CSCCF | 2.47 | 0.67 | 0.28 | 0.43 | 2.03 | 6.11 | 14.18 | |||
| HBM | 1.91 | 0.71 | 0.47 | 0.48 | 0.99 | 4.91 | 11.42 | |||
| ERO | 2.45 | 0.39 | 0.16 | 0.25 | 2.60 | 6.06 | 12.98 | |||
| CPCPF | 2.08 | (0.59) | 0.00 | (1.37) | 0.00 | 1.09 | 35.36 | |||
| SCCO | 1.83 | 0.67 | 0.30 | (0.52) | 1.41 | 4.12 | 13.52 | |||
| CPPMF | 22.87 | 8.42 | 0.30 | (3.38) | 15.71 | 75.00 | 205.00 | |||
| ARREF | 1.74 | 0.59 | 0.22 | (0.96) | 1.56 | 4.20 | 10.35 | |||
| CPPKF | 3.34 | 0.65 | 0.13 | (0.42) | 2.67 | 11.11 | 20.55 | |||
| DRCMF | 3.81 | 0.19 | 0.02 | 0.84 | 4.42 | 8.70 | 32.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Taseko Mines 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?
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Taseko Mines Corporate Directors
Taseko Mines corporate directors refer to members of a Taseko Mines board of directors. The board of directors generally takes responsibility for the Taseko Mines' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Taseko Mines' board members must vote for the resolution. The Taseko Mines board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Robert Dickinson | Independent Director | Profile | |
| Anu Dhir | Independent Director | Profile | |
| Alexander Morrison | Lead Director, Independent Director | Profile | |
| Richard Mundie | Independent Director | Profile |
Already Invested in Taseko Mines?
The danger of trading Taseko Mines is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Taseko Mines is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Taseko Mines. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Taseko Mines is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Taseko Mines offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Taseko Mines' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Taseko Mines Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Taseko Mines Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Taseko Mines. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. For information on how to trade Taseko Stock refer to our How to Trade Taseko Stock guide.Note that the Taseko Mines information on this page should be used as a complementary analysis to other Taseko Mines' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for Taseko Stock analysis
When running Taseko Mines' price analysis, check to measure Taseko Mines' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Taseko Mines is operating at the current time. Most of Taseko Mines' value examination focuses on studying past and present price action to predict the probability of Taseko Mines' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Taseko Mines' price. Additionally, you may evaluate how the addition of Taseko Mines to your portfolios can decrease your overall portfolio volatility.
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Is Taseko Mines' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Taseko Mines. If investors know Taseko will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Taseko Mines listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Taseko Mines is measured differently than its book value, which is the value of Taseko that is recorded on the company's balance sheet. Investors also form their own opinion of Taseko Mines' value that differs from its market value or its book value, called intrinsic value, which is Taseko Mines' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Taseko Mines' market value can be influenced by many factors that don't directly affect Taseko Mines' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Taseko Mines' value and its price as these two are different measures arrived at by different means. Investors typically determine if Taseko Mines is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Taseko Mines' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.