Barrick Gold Correlations

GOLD Stock

USD 17.91 0.19 1.07%

The current 90-days correlation between Barrick Gold Corp and Agnico Eagle Mines is 0.16 (i.e., Average diversification). The correlation of Barrick 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.

Barrick Gold Correlation With Market

Good diversification

The correlation between Barrick Gold Corp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barrick Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Barrick Gold Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Barrick Stock

0.82	SA	Seabridge Gold	Pair Corr
0.72	AGI	Alamos Gold	Pair Corr
0.75	BAK	Braskem SA Class	Pair Corr
0.83	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.83	EGO	Eldorado Gold Corp	Pair Corr
0.88	CGAU	Centerra Gold	Pair Corr
0.72	AU	AngloGold Ashanti plc	Pair Corr
0.91	CE	Celanese	Pair Corr
0.71	HL	Hecla Mining	Pair Corr

Moving against Barrick Stock

0.73	KALU	Kaiser Aluminum	Pair Corr
0.38	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	CENX	Century Aluminum	Pair Corr
0.65	RS	Reliance Steel Aluminum	Pair Corr
0.59	NC	NACCO Industries	Pair Corr
0.38	MP	MP Materials Corp	Pair Corr

Related Correlations Analysis

	AEM	PAAS	KGC	GFI	BTG	RGLD
AEM		0.78	0.78	0.77	0.74	0.84	AEM
PAAS	0.78		0.93	0.85	0.68	0.92	PAAS
KGC	0.78	0.93		0.83	0.76	0.92	KGC
GFI	0.77	0.85	0.83		0.77	0.79	GFI
BTG	0.74	0.68	0.76	0.77		0.67	BTG
RGLD	0.84	0.92	0.92	0.79	0.67		RGLD
	AEM	PAAS	KGC	GFI	BTG	RGLD

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Risk-Adjusted Indicators

There is a big difference between Barrick Stock performing well and Barrick Gold 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 Barrick 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
AEM	1.35	0.04	(0.03)	(0.22)	1.77	(1.53)	3.08	(2.69)	11.67
PAAS	2.18	0.06	0.01	0.18	2.29	(2.51)	6.05	(4.04)	14.73
KGC	1.99	0.10	0.01	0.46	2.60	(2.12)	5.41	(3.82)	18.27
GFI	2.21	(0.15)	0.00	1.25	0.00	0.00	4.52	(5.41)	14.93
BTG	2.09	(0.01)	(0.02)	0.07	2.26	(2.51)	3.90	(4.09)	17.88
RGLD	1.24	0.08	0.01	0.31	1.61	(1.19)	2.44	(2.62)	7.40

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