Kinross Gold Correlations

Stocks . Germany . 
Stock . Kinross Gold
KIN2 Stock  EUR 28.21  2.09  6.90%   
The current 90-days correlation between Kinross Gold and GAMESTOP is 0.11 (i.e., Average 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

Poor diversification

The correlation between Kinross Gold and DJI is 0.78 (i.e., 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.
  
The ability to find closely correlated positions to Kinross Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kinross Gold 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 Kinross Gold - 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 Kinross Gold to buy it.

Moving together with Kinross Stock

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Moving against Kinross Stock

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  0.613HB Hybrigenics SocietePairCorr

Related Correlations Analysis


Correlation Matchups

Over a given time period, the two securities move together 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

HAM
+ 0.94
H3M
H3M
+ 0.89
H3M
HAM
+ 0.87
H3M
H3M
+ 0.82
UCE
HAM
+ 0.72
UCE
H3M
+ 0.72
BO5
  

High negative correlations

BO5
- 0.39
GS2C
4U6
- 0.31
UCE
4U6
- 0.17
BO5
H3M
- 0.15
GS2C
4U6
- 0.07
H3M
4U6
- 0.03
H3M

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kinross Gold without increasing your portfolio risk or giving up the 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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Kinross Gold Corporate Management

Elected by the shareholders, the Kinross Gold's board of directors comprises two types of representatives: Kinross Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Kinross. The board's role is to monitor Kinross Gold's management team and ensure that shareholders' interests are well served. Kinross Gold's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Kinross Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.
Kathleen JDSenior ResourcesProfile
William DunfordSenior OfficerProfile
Ryan LatinovichExecutive DevelopmentProfile
David ShaverSenior CommunicationsProfile
Lucas CrosbySenior CounselProfile
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