Kinross Gold Correlations

KGC Stock

USD 34.56 1.00 2.98%

The current 90-days correlation between Kinross Gold and Gold Fields Ltd is 0.89 (i.e., Very poor 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

Very poor diversification

The correlation between Kinross Gold and DJI is 0.8 (i.e., Very poor 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 census.

For information on how to trade Kinross Stock refer to our How to Trade Kinross Stock guide.

Moving together with Kinross Stock

0.93	B	Barrick Mining Symbol Change	Pair Corr
0.78	BP60	ALMA METALS LTD	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.98	AG	First Majestic Silver Earnings Call Today	Pair Corr
0.83	AP	Ampco Pittsburgh	Pair Corr
0.96	AU	AngloGold Ashanti plc Earnings Call Tomorrow	Pair Corr
0.82	SRM	Seabridge Gold	Pair Corr
0.95	HL	Hecla Mining	Pair Corr
0.79	MT	ArcelorMittal SA ADR	Pair Corr
0.99	OR	Osisko Gold Ro	Pair Corr
0.86	RS	Reliance Steel Aluminum Earnings Call Today	Pair Corr
0.67	WIA	WIA Gold	Pair Corr
0.86	SA	Seabridge Gold	Pair Corr
0.91	TX	Ternium SA ADR	Pair Corr
0.73	WS	Worthington Steel	Pair Corr
0.83	CUU	Copper Fox Metals	Pair Corr
0.89	VALE	Vale SA ADR	Pair Corr
0.72	ARI	Arika Resources	Pair Corr
0.8	SRK	Strike Resources	Pair Corr
0.68	GCN	Goldcliff Resource Corp Earnings Call This Week	Pair Corr
0.82	LY1	Lion One Metals	Pair Corr
0.88	H6F	ARIZONA SONORAN PER	Pair Corr
0.82	DHR	Discovery Harbour Earnings Call This Week	Pair Corr
0.76	DV	Dolly Varden Silver	Pair Corr
0.87	P4Q	Perseus Mining Earnings Call Today	Pair Corr
0.95	ELY	Ely Gold Royalties	Pair Corr
0.98	WPM	Wheaton Precious Metals	Pair Corr

Moving against Kinross Stock

0.75	R8R	REGENER8 Resources	Pair Corr
0.5	GML	Gateway Mining	Pair Corr
0.44	FHS	Freehill Mining	Pair Corr

Related Correlations Analysis

	GFI	AU	AMRZ	NTR	MT	FNV	NUE	STLD	PPG	AGI
GFI		0.97	0.61	0.93	0.88	0.96	0.87	0.78	0.84	0.85	GFI
AU	0.97		0.62	0.9	0.89	0.97	0.87	0.77	0.85	0.87	AU
AMRZ	0.61	0.62		0.62	0.73	0.6	0.74	0.77	0.73	0.81	AMRZ
NTR	0.93	0.9	0.62		0.91	0.9	0.91	0.85	0.89	0.76	NTR
MT	0.88	0.89	0.73	0.91		0.85	0.94	0.93	0.98	0.78	MT
FNV	0.96	0.97	0.6	0.9	0.85		0.84	0.71	0.8	0.86	FNV
NUE	0.87	0.87	0.74	0.91	0.94	0.84		0.95	0.94	0.78	NUE
STLD	0.78	0.77	0.77	0.85	0.93	0.71	0.95		0.94	0.72	STLD
PPG	0.84	0.85	0.73	0.89	0.98	0.8	0.94	0.94		0.73	PPG
AGI	0.85	0.87	0.81	0.76	0.78	0.86	0.78	0.72	0.73		AGI
	GFI	AU	AMRZ	NTR	MT	FNV	NUE	STLD	PPG	AGI

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GFI	2.93	0.32	0.08	0.24	3.98	(3.05)	6.28	(6.36)	23.45
AU	2.72	0.39	0.09	0.35	4.01	(2.68)	5.74	(6.72)	21.11
AMRZ	1.72	0.32	0.20	0.23	1.47	(2.04)	3.79	(2.84)	7.50
NTR	1.68	0.24	0.11	0.44	1.90	(1.75)	3.39	(3.15)	12.86
MT	1.73	0.70	0.37	0.62	1.39	(2.16)	4.71	(1.54)	14.68
FNV	1.83	0.34	0.11	0.29	2.77	(1.88)	3.86	(4.44)	15.02
NUE	1.40	0.30	0.19	0.31	1.23	(1.52)	3.50	(2.45)	6.87
STLD	1.60	0.27	0.15	0.25	1.56	(1.71)	3.90	(2.95)	9.08
PPG	1.08	0.38	0.36	0.43	0.59	(1.30)	3.24	(1.64)	7.02
AGI	2.64	0.41	0.10	0.33	3.80	(2.62)	6.22	(6.26)	18.61

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