Barrick Mining Correlations

B Stock

USD 26.20 0.67 2.62%

The current 90-days correlation between Barrick Mining and Graco Inc is -0.03 (i.e., Good 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.

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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

0.85	EGO	Eldorado Gold Corp	Pair Corr
0.76	CENX	Century Aluminum	Pair Corr
0.68	CSTM	Constellium Nv	Pair Corr
0.69	AG	First Majestic Silver	Pair Corr
0.87	AU	AngloGold Ashanti plc	Pair Corr
0.7	CC	Chemours	Pair Corr
0.77	CX	Cemex SAB de	Pair Corr
0.91	HL	Hecla Mining	Pair Corr
0.82	MP	MP Materials Corp	Pair Corr
0.63	MT	ArcelorMittal SA ADR	Pair Corr
0.81	NB	NioCorp Developments	Pair Corr
0.84	NG	NovaGold Resources	Pair Corr
0.76	NX	Quanex Building Products	Pair Corr
0.75	OC	Owens Corning	Pair Corr
0.9	OR	Osisko Gold Ro	Pair Corr
0.83	SA	Seabridge Gold	Pair Corr

Moving against Barrick Stock

0.77	BAK	Braskem SA Class	Pair Corr
0.68	ZKIN	ZK International	Pair Corr
0.62	DOW	Dow Inc	Pair Corr
0.6	CE	Celanese	Pair Corr
0.41	CF	CF Industries Holdings	Pair Corr
0.31	FF	FutureFuel Corp	Pair Corr
0.6	WDFC	WD 40 Company	Pair Corr
0.49	HYMCL	Hycroft Mining Holding	Pair Corr
0.31	RS	Reliance Steel Aluminum	Pair Corr

Related Correlations Analysis

	HLIO	NPO	OFLX	LXFR	HURC	GGG	IEX	ITT	FELE	IR
HLIO		0.91	0.21	0.71	0.47	0.07	-0.68	0.86	0.85	-0.45	HLIO
NPO	0.91		0.28	0.77	0.67	0.15	-0.61	0.95	0.94	-0.22	NPO
OFLX	0.21	0.28		0.61	0.63	0.85	0.28	0.34	0.49	0.55	OFLX
LXFR	0.71	0.77	0.61		0.65	0.58	-0.21	0.76	0.85	0.18	LXFR
HURC	0.47	0.67	0.63	0.65		0.48	-0.22	0.74	0.76	0.29	HURC
GGG	0.07	0.15	0.85	0.58	0.48		0.44	0.18	0.32	0.65	GGG
IEX	-0.68	-0.61	0.28	-0.21	-0.22	0.44		-0.65	-0.51	0.78	IEX
ITT	0.86	0.95	0.34	0.76	0.74	0.18	-0.65		0.95	-0.22	ITT
FELE	0.85	0.94	0.49	0.85	0.76	0.32	-0.51	0.95		-0.08	FELE
IR	-0.45	-0.22	0.55	0.18	0.29	0.65	0.78	-0.22	-0.08		IR
	HLIO	NPO	OFLX	LXFR	HURC	GGG	IEX	ITT	FELE	IR

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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

ITT	+ 0.95	NPO
FELE	+ 0.95	ITT
FELE	+ 0.94	NPO
NPO	+ 0.91	HLIO
ITT	+ 0.86	HLIO
FELE	+ 0.85	HLIO

High negative correlations

IEX	- 0.68	HLIO
ITT	- 0.65	IEX
IEX	- 0.61	NPO
FELE	- 0.51	IEX
IR	- 0.45	HLIO
IR	- 0.22	ITT

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
HLIO	2.59	0.64	0.31	0.38	1.99	(3.30)	5.01	(3.54)	34.54
NPO	1.45	0.18	0.17	0.21	1.16	(1.82)	3.49	(2.36)	7.32
OFLX	2.13	(0.10)	0.02	0.06	2.27	(2.58)	4.68	(4.19)	14.80
LXFR	1.65	0.02	0.04	0.11	1.81	(1.73)	3.95	(2.70)	8.95
HURC	1.91	0.24	0.11	0.35	1.97	(2.18)	4.76	(3.30)	16.10
GGG	0.96	(0.10)	(0.07)	0.01	1.12	(1.11)	1.97	(1.86)	5.18
IEX	1.27	(0.30)	0.00	(0.09)	0.00	0.00	2.63	(2.57)	13.92
ITT	1.01	0.07	0.07	0.15	0.94	(1.21)	2.60	(1.63)	9.97
FELE	1.24	0.05	0.07	0.13	1.08	(1.51)	3.03	(1.89)	6.17
IR	1.43	(0.21)	0.00	(0.01)	0.00	0.00	2.75	(2.34)	14.16

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