Golden Ocean Correlations

GOGL -  USA Stock  

USD 11.43  0.28  2.39%

The correlation of Golden Ocean 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 Golden Ocean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Ocean Gp 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.
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The ability to find closely correlated positions to Golden Ocean 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 Ocean 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 Ocean - 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 Ocean Gp to buy it.

Moving together with Golden Ocean

0.72ASCArdmore Shipping CorpPairCorr
0.89DSXDiana ShippingPairCorr
0.79EGLEEagle Bulk ShipPairCorr
0.75GNKGenco Shipping TradingPairCorr
0.85INSWInternational SeawaysPairCorr

Related Correlations

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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   
INTCBAC
INTCAXP
GEAXP
GEBAC
INTCGE
AXPBAC
  
High negative correlations   
MRKBAC
MSFTMRK
GEMRK
AXPMRK
INTCMRK
MRKMMM

Golden Ocean Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Golden Ocean stock performing well and Golden Ocean 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 Golden Ocean'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.
Mean
Deviation
Jensen
Alpha
Sortino
Ratio
Treynor
Ratio
Semi
Deviation
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
BAC 1.52 (0.29)  0.00 (0.41)  0.00 (0.15)  0.00  3.38 (3.49)  9.79 
MMM 1.15 (0.03)  0.00 (0.19)  0.00  0.001  0.00  2.17 (2.52)  8.68 
MRK 1.01  0.32  0.39  0.55  0.81  0.30 (1.21)  2.16 (1.54)  7.44 
AXP 1.92 (0.17)  0.00 (0.27)  0.00 (0.1)  0.00  3.46 (3.99)  9.75 
JNJ 0.94  0.14  0.22  0.14  0.91  0.19 (1.11)  2.23 (1.63)  5.06 
GE 1.69 (0.31)  0.00 (0.39)  0.00 (0.14)  0.00  2.88 (4.93)  13.22 
MSFT 1.91  0.04  0.00 (0.12)  0.00 (0.0093)  0.00  2.97 (4.24)  9.36 
INTC 1.90 (0.10)  0.00 (0.22)  0.00 (0.06)  0.00  3.21 (3.64)  13.88 
CVX 1.79 (0.03)  0.00 (0.18)  0.00 (0.0046)  0.00  3.06 (4.60)  10.25 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Golden Ocean without increasing your portfolio risk or giving up 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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Golden Ocean Corporate Directors

Golden Ocean corporate directors refer to members of a Golden Ocean board of directors. The board of directors generally takes responsibility for the Golden Ocean'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 Golden Ocean's board members must vote for the resolution. The Golden Ocean board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
GertJan Akker - DirectorProfile
James OShaughnessy - DirectorProfile
David White - Independent DirectorProfile
Ulrika Laurin - DirectorProfile

Investing Golden Ocean Gp

You need to understand the risk of investing before taking a position in Golden Ocean. The danger of trading Golden Ocean Gp 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 Golden Ocean 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 Golden Ocean. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Golden Ocean Gp 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.
Please check Risk vs Return Analysis. Note that the Golden Ocean Gp information on this page should be used as a complementary analysis to other Golden Ocean's 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 Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.

Complementary Tools for Golden Stock analysis

When running Golden Ocean Gp price analysis, check to measure Golden Ocean'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 Golden Ocean is operating at the current time. Most of Golden Ocean's value examination focuses on studying past and present price action to predict the probability of Golden Ocean's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Golden Ocean's price. Additionally, you may evaluate how the addition of Golden Ocean to your portfolios can decrease your overall portfolio volatility.
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Is Golden Ocean's 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 Golden Ocean. If investors know Golden 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 Golden Ocean 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 Golden Ocean Gp is measured differently than its book value, which is the value of Golden that is recorded on the company's balance sheet. Investors also form their own opinion of Golden Ocean's value that differs from its market value or its book value, called intrinsic value, which is Golden Ocean's 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 Golden Ocean's market value can be influenced by many factors that don't directly affect Golden Ocean's 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 Golden Ocean's value and its price as these two are different measures arrived at by different means. Investors typically determine Golden Ocean value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Golden Ocean'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.