Doubleview Gold Correlations

DBLVF Stock

USD 0.53 0.03 5.36%

The current 90-days correlation between Doubleview Gold Corp and Nicola Mining is 0.22 (i.e., Modest diversification). The correlation of Doubleview 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.

Doubleview Gold Correlation With Market

Modest diversification

The correlation between Doubleview Gold Corp and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleview Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Doubleview 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 Doubleview 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 Doubleview 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 Doubleview Gold Corp to buy it.

Moving together with Doubleview OTC Stock

0.66	AVAL	Grupo Aval	Pair Corr
0.63	SHG	Shinhan Financial	Pair Corr
0.62	BCH	Banco De Chile	Pair Corr
0.76	MTLS	Materialise NV Tech Boost	Pair Corr
0.88	STAEY	Stanley Electric	Pair Corr
0.85	DLTTF	Dalata Hotel Group	Pair Corr
0.61	PANW	Palo Alto Networks Earnings Call Tomorrow	Pair Corr
0.79	WMWWF	West Wits Mining	Pair Corr
0.75	IREN	IREN Earnings Call This Week	Pair Corr
0.68	BKOR	Oak Ridge Financial	Pair Corr
0.65	CORZ	Core Scientific, Common	Pair Corr
0.89	EXC	Exelon	Pair Corr
0.65	SNOW	Snowflake	Pair Corr
0.74	VSAT	ViaSat Inc	Pair Corr

Moving against Doubleview OTC Stock

0.84	GCMGW	GCM Grosvenor	Pair Corr
0.49	ADVWW	Advantage Solutions	Pair Corr
0.41	MAPSW	WM Technology	Pair Corr
0.36	PCTTW	PureCycle Technologies	Pair Corr
0.64	EEGI	Eline Entertainment	Pair Corr
0.51	TKCM	Token Communities	Pair Corr
0.72	665531AG4	US665531AG42	Pair Corr

Related Correlations Analysis

	HUSIF	LITOF	GRLRF	GLATF	QUEXF	GPHOF	CVVUF	GEODF	LMRXF	OMHLF
HUSIF		0.11	0.4	0.69	0.05	0.26	0.62	-0.08	0.76	0.0	HUSIF
LITOF	0.11		0.2	-0.4	0.68	0.66	-0.29	0.59	0.51	0.0	LITOF
GRLRF	0.4	0.2		0.27	0.16	0.75	0.35	-0.06	0.62	0.0	GRLRF
GLATF	0.69	-0.4	0.27		-0.14	-0.05	0.73	-0.37	0.41	0.0	GLATF
QUEXF	0.05	0.68	0.16	-0.14		0.5	-0.37	0.71	0.32	0.0	QUEXF
GPHOF	0.26	0.66	0.75	-0.05	0.5		-0.08	0.41	0.64	0.0	GPHOF
CVVUF	0.62	-0.29	0.35	0.73	-0.37	-0.08		-0.58	0.51	0.0	CVVUF
GEODF	-0.08	0.59	-0.06	-0.37	0.71	0.41	-0.58		0.07	0.0	GEODF
LMRXF	0.76	0.51	0.62	0.41	0.32	0.64	0.51	0.07		0.0	LMRXF
OMHLF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		OMHLF
	HUSIF	LITOF	GRLRF	GLATF	QUEXF	GPHOF	CVVUF	GEODF	LMRXF	OMHLF

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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

LMRXF	+ 0.76	HUSIF
GPHOF	+ 0.75	GRLRF
CVVUF	+ 0.73	GLATF
GEODF	+ 0.71	QUEXF
GLATF	+ 0.69	HUSIF
QUEXF	+ 0.68	LITOF

High negative correlations

GEODF	- 0.58	CVVUF
GLATF	- 0.4	LITOF
CVVUF	- 0.37	QUEXF
GEODF	- 0.37	GLATF
CVVUF	- 0.29	LITOF
QUEXF	- 0.14	GLATF

Risk-Adjusted Indicators

There is a big difference between Doubleview OTC Stock performing well and Doubleview 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 Doubleview 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
HUSIF	3.88	0.08	0.01	0.29	4.36	(5.44)	9.09	(9.20)	22.05
LITOF	3.32	0.60	0.14	0.34	3.05	(4.92)	9.52	(4.88)	24.20
GRLRF	3.51	0.14	0.03	0.36	3.43	(5.26)	13.98	(6.67)	26.45
GLATF	3.49	(0.01)	0.00	0.02	4.56	(5.13)	8.16	(5.56)	37.00
QUEXF	3.77	0.68	0.17	0.29	3.52	(5.17)	9.86	(7.25)	25.91
GPHOF	5.82	1.20	0.19	(1.69)	4.94	(8.62)	15.00	(9.43)	44.77
CVVUF	3.30	(0.62)	0.00	(0.43)	0.00	0.00	7.89	(5.88)	37.70
GEODF	1.39	0.29	0.16	(1.49)	1.17	(1.98)	3.68	(2.40)	7.85
LMRXF	3.19	0.29	0.07	0.22	3.24	(4.99)	7.89	(6.38)	28.76
OMHLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Doubleview 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.

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