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.
B2Gold |
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
| 0.71 | AG | First Majestic Silver | PairCorr |
| 0.69 | ORE | Orezone Gold Corp Earnings Call This Week | PairCorr |
| 0.8 | FDY | Faraday Copper Corp | PairCorr |
| 0.74 | VZ | Verizon Communications | PairCorr |
| 0.77 | BRK | Berkshire Hathaway CDR | PairCorr |
Moving against B2Gold Stock
| 0.78 | GOOG | Alphabet CDR | PairCorr |
| 0.76 | AMZN | Amazon CDR | PairCorr |
| 0.69 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.42 | AAPL | Apple Inc CDR | PairCorr |
| 0.42 | NVDA | NVIDIA CDR | PairCorr |
| 0.38 | WMT | Walmart Inc CDR | PairCorr |
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| K | 1.98 | 0.38 | 0.14 | 0.55 | 2.50 | 4.84 | 13.51 | |||
| IMG | 2.33 | 0.25 | 0.08 | 0.24 | 3.24 | 4.87 | 16.87 | |||
| ABX | 1.44 | 0.25 | 0.16 | 0.42 | 1.58 | 3.12 | 9.41 | |||
| AEM | 1.41 | 0.40 | 0.23 | 0.49 | 1.55 | 3.16 | 10.26 | |||
| AGI | 1.51 | 0.51 | 0.25 | 0.74 | 1.49 | 3.79 | 8.00 |
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?
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