Barrick Mining Correlations

Stocks . USA . 
Stock . Barrick Mining
B Stock  USD 21.50  0.09  0.42%   
The current 90-days correlation between Barrick Mining and AngloGold Ashanti plc is 0.89 (i.e., Very 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

Very good diversification

The correlation between Barrick Mining and DJI is -0.36 (i.e., Very good 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.

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Related Correlations Analysis

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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.

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