Kinross Gold Correlations

Stocks . USA . 
Stock . Kinross Gold
KGC Stock  USD 29.12  0.82  2.90%   
The current 90-days correlation between Kinross Gold and Gold Fields Ltd is 0.9 (i.e., Almost no diversification). The correlation of Kinross 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.

Kinross Gold Correlation With Market

Modest diversification

The correlation between Kinross Gold and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinross Gold and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Kinross Stock
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kinross Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.
For information on how to trade Kinross Stock refer to our How to Trade Kinross Stock guide.

Moving together with Kinross Stock

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  0.83SA Seabridge GoldPairCorr
  0.75WS Worthington SteelPairCorr
  0.85AGI Alamos GoldPairCorr
  0.81DRD DRDGOLD Limited ADRPairCorr
  0.73EXK Endeavour Silver CorpPairCorr
  0.94FSM Fortuna Silver MinesPairCorr
  0.67ZEUS Olympic SteelPairCorr
  0.65LODE Comstock MiningPairCorr
  0.81AAUC Allied GoldPairCorr
  0.83ARMN Aris MiningPairCorr
  0.66NAUFF NevGold CorpPairCorr
  0.7DB Deutsche Bank AGPairCorr
  0.81FTV Fortive CorpPairCorr
  0.74ADAMI New York Mortgage Symbol ChangePairCorr
  0.83MRK Merck CompanyPairCorr

Moving against Kinross Stock

  0.77CTDD Qwest Corp 6PairCorr
  0.62CTBB Qwest Corp NTPairCorr
  0.6MAPSW WM TechnologyPairCorr
  0.57PCTTW PureCycle TechnologiesPairCorr
  0.72MSFT Microsoft Sell-off TrendPairCorr
  0.67PG Procter GamblePairCorr
  0.62HPQ HP IncPairCorr
  0.58HD Home DepotPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Kinross Stock performing well and Kinross 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 Kinross 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GFI  2.85  0.07  0.02  0.14  4.02 
(2.94)
 6.41 
(6.87)
 18.05 
AU  2.63  0.26  0.08  0.23  3.63 
(2.74)
 5.39 
(5.98)
 15.73 
AMRZ  1.44  0.16  0.13  0.19  1.30 
(1.76)
 3.46 
(2.18)
 8.15 
NTR  1.42  0.05 (0.01) 0.44  1.93 
(1.35)
 3.01 
(2.93)
 7.65 
MT  1.45  0.32  0.14  3.52  1.49 
(1.69)
 3.58 
(2.23)
 12.02 
FNV  1.50 (0.12) 0.00 (0.06) 0.00 
 0.00 
 3.03 
(4.44)
 9.49 
NUE  1.49  0.23  0.17  0.23  1.26 
(1.68)
 3.86 
(2.75)
 8.47 
STLD  1.51  0.30  0.13  2.13  1.50 
(1.68)
 3.50 
(2.78)
 8.57 
PPG  1.01  0.05  0.00  0.35  1.46 
(1.07)
 2.16 
(1.95)
 8.02 
AGI  2.20  0.27  0.06  1.31  3.04 
(2.20)
 5.22 
(4.64)
 15.67 

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