Kinross Gold Correlations

KGC Stock  USD 14.84  0.05  0.34%   
The current 90-days correlation between Kinross Gold and Pan American Silver is 0.81 (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

Modest diversification

The correlation between Kinross Gold and DJI is 0.22 (i.e., Modest 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.
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 price.
For information on how to trade Kinross Stock refer to our How to Trade Kinross Stock guide.

Moving together with Kinross Stock

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Moving against Kinross Stock

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Related Correlations Analysis

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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.