Kinross Gold Correlations

KGC Stock

USD 14.21 0.55 3.73%

The current 90-days correlation between Kinross Gold and Pan American Silver is 0.83 (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

Very weak diversification

The correlation between Kinross Gold and DJI is 0.42 (i.e., Very weak 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.

Build AI portfolio with Kinross Stock

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

0.67	X	United States Steel	Pair Corr
0.93	AU	AngloGold Ashanti plc Downward Rally	Pair Corr
0.94	OR	Osisko Gold Ro Earnings Call This Week	Pair Corr
0.93	AEM	Agnico Eagle Mines	Pair Corr
0.87	AGI	Alamos Gold	Pair Corr
0.72	BTG	B2Gold Corp Earnings Call This Week	Pair Corr
0.79	DRD	DRDGOLD Limited ADR Downward Rally	Pair Corr
0.93	EGO	Eldorado Gold Corp	Pair Corr
0.89	FNV	Franco Nevada	Pair Corr
0.83	FSM	Fortuna Silver Mines Earnings Call This Week	Pair Corr
0.83	GFI	Gold Fields Downward Rally	Pair Corr
0.96	HMY	Harmony Gold Mining	Pair Corr

Moving against Kinross Stock

0.84	DOW	Dow Inc Sell-off Trend	Pair Corr
0.77	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.73	CLF	Cleveland Cliffs Aggressive Push	Pair Corr
0.66	HYMCW	Hycroft Mining Holding	Pair Corr
0.65	CE	Celanese Earnings Call This Week	Pair Corr
0.64	CMC	Commercial Metals	Pair Corr
0.56	WLKP	Westlake Chemical	Pair Corr
0.55	WS	Worthington Steel	Pair Corr
0.48	TX	Ternium SA ADR	Pair Corr
0.41	RS	Reliance Steel Aluminum	Pair Corr
0.38	BAK	Braskem SA Class Earnings Call This Week	Pair Corr
0.91	HLP	Hongli Group Ordinary	Pair Corr
0.85	HUN	Huntsman	Pair Corr
0.82	LXU	Lsb Industries	Pair Corr
0.75	NUE	Nucor Corp	Pair Corr
0.67	GGB	Gerdau SA ADR	Pair Corr
0.67	OLN	Olin	Pair Corr
0.46	ERO	Ero Copper Corp Earnings Call This Week	Pair Corr
0.32	FCX	Freeport McMoran Copper	Pair Corr

Related Correlations Analysis

	PAAS	NEM	WPM	FNV	AEM	GFI	AU	HMY	EGO
PAAS		0.7	0.71	0.62	0.63	0.62	0.59	0.59	0.46	PAAS
NEM	0.7		0.91	0.89	0.93	0.85	0.93	0.93	0.88	NEM
WPM	0.71	0.91		0.95	0.95	0.94	0.92	0.88	0.84	WPM
FNV	0.62	0.89	0.95		0.99	0.93	0.96	0.86	0.9	FNV
AEM	0.63	0.93	0.95	0.99		0.93	0.98	0.91	0.92	AEM
GFI	0.62	0.85	0.94	0.93	0.93		0.94	0.88	0.84	GFI
AU	0.59	0.93	0.92	0.96	0.98	0.94		0.93	0.94	AU
HMY	0.59	0.93	0.88	0.86	0.91	0.88	0.93		0.93	HMY
EGO	0.46	0.88	0.84	0.9	0.92	0.84	0.94	0.93		EGO
	PAAS	NEM	WPM	FNV	AEM	GFI	AU	HMY	EGO

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PAAS	2.46	0.37	0.10	0.16	3.14	(2.74)	5.02	(4.57)	18.76
NEM	1.95	0.48	0.20	0.47	2.25	(2.14)	4.63	(3.35)	13.22
WPM	1.54	0.55	0.24	0.77	2.06	(1.68)	4.40	(2.71)	14.13
FNV	1.31	0.43	0.25	(5.10)	1.68	(1.39)	3.95	(2.14)	12.58
AEM	1.57	0.43	0.24	(6.36)	2.06	(1.76)	4.83	(2.36)	13.13
GFI	2.43	0.56	0.21	(9.29)	3.02	(2.67)	4.75	(3.73)	16.71
AU	2.53	0.70	0.27	27.69	2.57	(2.91)	6.67	(5.20)	16.18
HMY	2.96	0.71	0.19	0.73	3.28	(3.16)	9.10	(6.54)	20.77
EGO	2.26	0.38	0.13	(19.20)	3.44	(2.23)	5.32	(5.86)	14.25

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