RE:no love It gives a little comparison VGCX GDXJ (gold junior etf):
rounded perf:
3M : VGCX -20% GDXJ -13%
1M : VGCX +20% GDXJ -5%
5D : VGCX +1% GDXJ +4%
1D : VGCX -2% GDXJ +4%
YTD : VGCX +6% GDXJ -8%
What to say ? VGCX has underperformed the second part of last year. We know why. It went up from 4 to 20 then retraced because of the Orion sale and bad operational news.
Since refinancing (18th Dec), it has been performing well.
17th December: inclusion in the GDXJ index.
Perf sincen then: VGCX +10% GDXJ -10%
What gives ? It gives that daily correlation with benchmark isn't useful. It gives that VGCX stock has a high intraday volatility, it means that we saw quick intraday reversal in the past, days up when peers are down and the opposite. So it gives nothing special.
Having said that, I am not happy with current prices vs my expectation as VGCX did not beat its natural benchmark looking at a the 2Y perf. But with operational issues being fixed, and new financing in place I think VGCX will overperform the next 6-9 months.
So let's see what it gives by end September.