Barrick Mining Correlations

B Stock

USD 32.48 0.54 1.69%

The current 90-days correlation between Barrick Mining and Wheaton Precious Metals is 0.69 (i.e., Poor diversification). The correlation of Barrick Mining 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 Mining Correlation With Market

Average diversification

The correlation between Barrick Mining and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barrick Mining and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Barrick Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Barrick Mining. 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 labor statistics.

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

Moving together with Barrick Stock

0.73	AA	Alcoa Corp	Pair Corr
0.95	AU	AngloGold Ashanti plc Sell-off Trend	Pair Corr
0.87	AMX	Amex Exploration	Pair Corr
0.92	PME	Sentry Select Primary	Pair Corr
0.85	MKO	Mako Mining Corp	Pair Corr
0.86	REC	Recharge Metals	Pair Corr
0.64	QTWO	Q2 Metals Corp	Pair Corr
0.84	TWO	T2 Metals Corp	Pair Corr
0.87	POL	Polymetals Resources	Pair Corr
0.73	603969	Tianjin Silvery Dragon	Pair Corr
0.82	LGD	Liberty Gold Corp	Pair Corr
0.95	FNV	Franco Nevada	Pair Corr
0.62	YRB	Yorbeau Resources	Pair Corr
0.97	GFI	Gold Fields	Pair Corr
0.74	HMY	Harmony Gold Mining	Pair Corr
0.86	KGC	Kinross Gold	Pair Corr
0.72	GWM	Galway Metals	Pair Corr
0.84	WPM	Wheaton Precious Metals Sell-off Trend	Pair Corr
0.72	CGC	Aris Gold	Pair Corr
0.89	FAIR	Fairchild Gold Corp	Pair Corr
0.86	ATYM	Atalaya Mining	Pair Corr
0.9	VGZ	Vista Gold	Pair Corr
0.83	BIS	Bisalloy Steel Group	Pair Corr
0.74	FDR	Flinders Resources	Pair Corr
0.62	VAU	Viva Gold Corp	Pair Corr

Moving against Barrick Stock

0.49	300337	Yinbang Clad Material	Pair Corr
0.76	300828	Tianjin Ruixin Technology	Pair Corr
0.54	NUE	Nucor Corp Earnings Call This Week	Pair Corr
0.78	300881	Shengtak New Material	Pair Corr
0.45	GRC	Gold Springs Resource	Pair Corr

Related Correlations Analysis

	WPM	GFI	AU	APD	FCX	KGC	FNV	VALE	AEM	CTVA
WPM		0.88	0.87	-0.47	-0.03	0.86	0.93	0.73	0.86	-0.52	WPM
GFI	0.88		0.98	-0.73	-0.08	0.88	0.94	0.94	0.98	-0.75	GFI
AU	0.87	0.98		-0.75	-0.1	0.87	0.91	0.92	0.98	-0.8	AU
APD	-0.47	-0.73	-0.75		0.46	-0.54	-0.55	-0.73	-0.79	0.94	APD
FCX	-0.03	-0.08	-0.1	0.46		-0.01	-0.09	0.0	-0.11	0.4	FCX
KGC	0.86	0.88	0.87	-0.54	-0.01		0.9	0.77	0.88	-0.6	KGC
FNV	0.93	0.94	0.91	-0.55	-0.09	0.9		0.85	0.91	-0.59	FNV
VALE	0.73	0.94	0.92	-0.73	0.0	0.77	0.85		0.93	-0.74	VALE
AEM	0.86	0.98	0.98	-0.79	-0.11	0.88	0.91	0.93		-0.8	AEM
CTVA	-0.52	-0.75	-0.8	0.94	0.4	-0.6	-0.59	-0.74	-0.8		CTVA
	WPM	GFI	AU	APD	FCX	KGC	FNV	VALE	AEM	CTVA

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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

AU	+ 0.98	GFI
AEM	+ 0.98	GFI
AEM	+ 0.98	AU
FNV	+ 0.94	GFI
VALE	+ 0.94	GFI
CTVA	+ 0.94	APD

High negative correlations

CTVA	- 0.8	AEM
CTVA	- 0.8	AU
AEM	- 0.79	APD
APD	- 0.75	AU
CTVA	- 0.75	GFI
CTVA	- 0.74	VALE

Risk-Adjusted Indicators

There is a big difference between Barrick Stock performing well and Barrick Mining 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 Mining'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
WPM	1.53	0.12	0.02	11.77	2.66	(1.46)	2.93	(3.15)	13.19
GFI	2.73	0.85	0.20	(14.54)	3.36	(3.13)	6.46	(4.56)	22.17
AU	2.37	0.55	0.15	1.80	3.11	(2.66)	4.98	(5.15)	20.34
APD	0.94	(0.32)	0.00	(0.17)	0.00	0.00	1.97	(2.14)	6.24
FCX	2.02	(0.16)	0.00	(0.02)	0.00	0.00	3.85	(5.94)	20.70
KGC	2.06	0.66	0.15	5.63	3.05	(2.10)	5.22	(4.07)	17.52
FNV	1.47	0.25	0.09	0.70	1.93	(1.51)	2.85	(2.73)	11.73
VALE	0.94	0.23	0.17	0.45	0.90	(1.07)	2.42	(1.74)	5.70
AEM	1.55	0.45	0.14	4.66	2.30	(1.67)	4.41	(2.75)	13.50
CTVA	1.17	(0.23)	0.00	(0.37)	0.00	0.00	1.86	(3.63)	11.29

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