Drdgold Correlations

DRDGF Stock

USD 2.80 0.15 5.66%

The current 90-days correlation between Drdgold and Pan African Resources is 0.29 (i.e., Modest diversification). The correlation of Drdgold 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.

Drdgold Correlation With Market

Significant diversification

The correlation between Drdgold and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Drdgold and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Drdgold Pink Sheet

0.8	NEM	Newmont Goldcorp Corp	Pair Corr
0.8	AEM	Agnico Eagle Mines	Pair Corr
0.84	ZIJMY	Zijin Mining Group	Pair Corr
0.79	ZIJMF	Zijin Mining Group	Pair Corr
0.76	AU	AngloGold Ashanti plc	Pair Corr
0.79	GFI	Gold Fields	Pair Corr
0.79	KGC	Kinross Gold	Pair Corr
0.78	PLG	Platinum Group Metals	Pair Corr
0.69	UEC	Uranium Energy Corp	Pair Corr

Moving against Drdgold Pink Sheet

0.68	PPERY	Bank Mandiri Persero	Pair Corr
0.63	BKRKY	Bank Rakyat	Pair Corr
0.54	PPERF	Bank Mandiri Persero	Pair Corr
0.48	PBCRY	Bank Central Asia	Pair Corr
0.4	PTAIF	PT Astra International	Pair Corr
0.37	PTBRY	Bank Negara Indonesia	Pair Corr

Related Correlations Analysis

	PAFRF	ELKMF	RGRNF	HCHDF	WDOFF	KNTNF	APEMY	PITPF	EOGSF	CLZNY
PAFRF		-0.44	0.71	0.7	0.83	0.73	0.71	0.0	0.76	-0.81	PAFRF
ELKMF	-0.44		-0.31	-0.29	-0.34	-0.12	-0.08	0.0	-0.41	0.24	ELKMF
RGRNF	0.71	-0.31		0.59	0.77	0.7	0.58	0.0	0.78	-0.74	RGRNF
HCHDF	0.7	-0.29	0.59		0.87	0.79	0.45	0.0	0.73	-0.46	HCHDF
WDOFF	0.83	-0.34	0.77	0.87		0.84	0.62	0.0	0.8	-0.66	WDOFF
KNTNF	0.73	-0.12	0.7	0.79	0.84		0.73	0.0	0.79	-0.79	KNTNF
APEMY	0.71	-0.08	0.58	0.45	0.62	0.73		0.0	0.58	-0.85	APEMY
PITPF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PITPF
EOGSF	0.76	-0.41	0.78	0.73	0.8	0.79	0.58	0.0		-0.7	EOGSF
CLZNY	-0.81	0.24	-0.74	-0.46	-0.66	-0.79	-0.85	0.0	-0.7		CLZNY
	PAFRF	ELKMF	RGRNF	HCHDF	WDOFF	KNTNF	APEMY	PITPF	EOGSF	CLZNY

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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

WDOFF	+ 0.87	HCHDF
KNTNF	+ 0.84	WDOFF
WDOFF	+ 0.83	PAFRF
EOGSF	+ 0.8	WDOFF
KNTNF	+ 0.79	HCHDF
EOGSF	+ 0.79	KNTNF

High negative correlations

CLZNY	- 0.85	APEMY
CLZNY	- 0.81	PAFRF
CLZNY	- 0.79	KNTNF
CLZNY	- 0.74	RGRNF
CLZNY	- 0.7	EOGSF
CLZNY	- 0.66	WDOFF

Risk-Adjusted Indicators

There is a big difference between Drdgold Pink Sheet performing well and Drdgold 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 Drdgold'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
PAFRF	2.64	1.12	0.00	(1.41)	0.00	0.00	7.50	0.00	51.45
ELKMF	15.42	4.40	0.11	(3.82)	15.08	(43.93)	107.92	(49.05)	160.24
RGRNF	3.15	0.69	0.13	1.13	3.73	(3.71)	8.25	(5.77)	22.92
HCHDF	3.19	0.42	0.08	(1.48)	4.10	(3.61)	7.97	(5.95)	25.30
WDOFF	2.40	0.38	0.09	0.66	3.26	(2.31)	4.47	(5.43)	14.93
KNTNF	2.32	0.41	0.10	0.50	3.33	(2.39)	4.99	(5.62)	21.11
APEMY	0.86	0.32	0.00	1.33	0.00	0.00	3.47	(0.75)	12.47
PITPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOGSF	3.15	0.60	0.14	(4.90)	2.93	(4.69)	8.03	(5.71)	19.19
CLZNY	1.21	(0.12)	0.00	0.19	0.00	0.00	4.59	(5.31)	16.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in Drdgold 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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Drdgold Corporate Management

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