B2Gold Corp Correlations

BTG Stock

USD 3.30 0.02 0.61%

The current 90-days correlation between B2Gold Corp and Sandstorm Gold Ltd is 0.64 (i.e., Poor diversification). The correlation of B2Gold Corp 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.

B2Gold Corp Correlation With Market

Significant diversification

The correlation between B2Gold Corp and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding B2Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in B2Gold Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in B2Gold Stock please use our How to Invest in B2Gold Corp guide.

Moving together with B2Gold Stock

0.67	AG	First Majestic Silver Aggressive Push	Pair Corr
0.63	DC	Dakota Gold Corp	Pair Corr
0.68	MT	ArcelorMittal SA ADR	Pair Corr
0.65	TX	Ternium SA ADR	Pair Corr
0.7	AGI	Alamos Gold	Pair Corr
0.69	DRD	DRDGOLD Limited ADR	Pair Corr
0.72	EXK	Endeavour Silver Corp	Pair Corr

Moving against B2Gold Stock

0.7	CE	Celanese	Pair Corr
0.46	HYMCW	Hycroft Mining Holding	Pair Corr
0.44	DOW	Dow Inc	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr
0.51	LXU	Lsb Industries	Pair Corr
0.51	OLN	Olin	Pair Corr
0.45	ODV	Osisko Development Corp Earnings Call This Week	Pair Corr
0.34	HBM	Hudbay Minerals	Pair Corr
0.32	ERO	Ero Copper Corp	Pair Corr

Related Correlations Analysis

	SAND	KGC	AGI	FSM	IAG
SAND		0.87	0.94	0.72	0.66	SAND
KGC	0.87		0.82	0.67	0.8	KGC
AGI	0.94	0.82		0.63	0.52	AGI
FSM	0.72	0.67	0.63		0.67	FSM
IAG	0.66	0.8	0.52	0.67		IAG
	SAND	KGC	AGI	FSM	IAG

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Risk-Adjusted Indicators

There is a big difference between B2Gold Stock performing well and B2Gold Corp 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 B2Gold Corp'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
SAND	1.61	0.32	0.15	0.86	2.25	(1.69)	3.54	(3.39)	11.26
KGC	2.09	0.33	0.14	4.19	2.64	(2.07)	4.85	(4.94)	12.67
AGI	1.66	0.48	0.25	1.05	1.74	(1.81)	3.91	(3.38)	9.71
FSM	2.83	0.39	0.11	0.50	3.47	(2.93)	6.76	(5.87)	16.63
IAG	2.51	0.19	0.06	0.26	3.49	(2.51)	4.90	(6.08)	17.49

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