Zijin Mining Correlations

ZIJMF
 Stock
  

USD 1.39  0.02  1.46%   

The correlation of Zijin Mining is a statistical measure of how it moves in relation to other equities. 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 Zijin Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Zijin Mining Group 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.
Check out Your Current Watchlist.
  
The ability to find closely correlated positions to Zijin Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zijin Mining 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 Zijin Mining - 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 Zijin Mining Group to buy it.

Moving together with Zijin Mining

+0.88ZIJMYZijin Mining GroupPairCorr
+0.81NEMNewmont Goldcorp CorpPairCorr
+0.69GOLDBarrick Gold Corp Aggressive PushPairCorr
+0.79AEMAgnico Eagle MinesPairCorr
+0.81WPMWheaton Precious MetalsPairCorr
+0.88NCMGFNewcrest MiningPairCorr
+0.92NCMGYNewcrest MiningPairCorr
+0.8GFIGold FieldsPairCorr
+0.89SBUXStarbucksPairCorr
+0.72ABBVAbbVie IncPairCorr
+0.69JPMJPMorgan Chase Sell-off TrendPairCorr
+0.61TRVThe Travelers CompaniesPairCorr
+0.77AAAlcoa CorpPairCorr
+0.87BABoeingPairCorr
+0.82PFEPfizer IncPairCorr
+0.75HPQHP IncPairCorr

Related Correlations

ADVOF
NOKBF
ERIXF
DGII
SATS
NOK
ADVOF
0.12-0.520.840.410.08
ADVOF
NOKBF
0.120.540.340.010.96
NOKBF
ERIXF
-0.520.54-0.38-0.350.55
ERIXF
DGII
0.840.34-0.380.330.33
DGII
SATS
0.410.01-0.350.33-0.05
SATS
NOK
0.080.960.550.33-0.05
NOK
ADVOF
NOKBF
ERIXF
DGII
SATS
NOK
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
NOKNOKBF
DGIIADVOF
NOKERIXF
ERIXFNOKBF
SATSADVOF
DGIINOKBF
  
High negative correlations   
ERIXFADVOF
DGIIERIXF
SATSERIXF
NOKSATS

Risk-Adjusted Indicators

Nowadays, there is a big difference between Zijin Pink Sheet performing well and Zijin Mining company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Zijin Mining's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

The entity Zijin Mining Group with a symbol ZIJMF was recently relisted or delisted. You can potentially use Zijin Mining Group with a symbol ZIJMF. Please make sure the ticker renaming or change in the classification of Zijin Mining Group is not a temporary action by the exchange.

Zijin Mining Corporate Directors

Zijin Mining corporate directors refer to members of a Zijin Mining board of directors. The board of directors generally takes responsibility for the Zijin Mining's 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 Zijin Mining's board members must vote for the resolution. The Zijin Mining board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Hoi Sit - Non-Executive Independent DirectorProfile
Guang Zhu - Independent DirectorProfile
Shihua Lu - Non-Executive Independent DirectorProfile
Haihua Xue - Independent DirectorProfile

Invested in Zijin Mining Group?

The danger of trading Zijin Mining Group 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 Zijin Mining 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 Zijin Mining. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Zijin Mining Group 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.
Check out Your Current Watchlist. You can also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.

Complementary Tools for analysis

When running Zijin Mining Group price analysis, check to measure Zijin Mining's 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 Zijin Mining is operating at the current time. Most of Zijin Mining's value examination focuses on studying past and present price action to predict the probability of Zijin Mining's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Zijin Mining's price. Additionally, you may evaluate how the addition of Zijin Mining to your portfolios can decrease your overall portfolio volatility.
Competition Analyzer
Analyze and compare many basic indicators for a group of related or unrelated entities
Go
Fundamental Analysis
View fundamental data based on most recent published financial statements
Go
Alpha Finder
Use alpha and beta coefficients to find investment opportunities after accounting for the risk
Go
CEO Directory
Screen CEOs from public companies around the world
Go
Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges
Go
Portfolio Center
All portfolio management and optimization tools to improve performance of your portfolios
Go
Focused Opportunities
Build portfolios using our predefined set of ideas and optimize them against your investing preferences
Go
Portfolio Rebalancing
Analyze risk-adjusted returns against different time horizons to find asset-allocation targets
Go
Please note, there is a significant difference between Zijin Mining's value and its price as these two are different measures arrived at by different means. Investors typically determine Zijin Mining value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Zijin Mining's 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.