B2Gold Corp Correlations

BTO Stock  CAD 4.59  0.12  2.55%   
The current 90-days correlation between B2Gold Corp and Kinross Gold Corp is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as B2Gold Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if B2Gold Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

B2Gold Corp Correlation With Market

Significant diversification

The correlation between B2Gold Corp and DJI is 0.06 (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.
  
The ability to find closely correlated positions to B2Gold Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace B2Gold Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back B2Gold Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling B2Gold Corp to buy it.

Moving together with B2Gold Stock

  0.71AG First Majestic SilverPairCorr
  0.69ORE Orezone Gold Corp Earnings Call This WeekPairCorr
  0.8FDY Faraday Copper CorpPairCorr
  0.74VZ Verizon CommunicationsPairCorr
  0.77BRK Berkshire Hathaway CDRPairCorr

Moving against B2Gold Stock

  0.78GOOG Alphabet CDRPairCorr
  0.76AMZN Amazon CDRPairCorr
  0.69MSFT Microsoft Corp CDRPairCorr
  0.42AAPL Apple Inc CDRPairCorr
  0.42NVDA NVIDIA CDRPairCorr
  0.38WMT Walmart Inc CDRPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in B2Gold Corp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Investing Opportunities Now

   

Investing Opportunities

Build portfolios using our predefined set of ideas and optimize them against your investing preferences
All  Next Launch Module