Gold Fields Correlations

GFI Stock

USD 14.56 0.15 1.02%

The current 90-days correlation between Gold Fields and Agnico Eagle Mines is 0.7 (i.e., Poor diversification). The correlation of Gold Fields 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gold Fields Ltd. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Gold Stock

0.82	AG	First Majestic Silver	Pair Corr
0.62	EGO	Eldorado Gold Corp	Pair Corr
0.91	HMY	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.85	MAG	MAG Silver Corp Potential Growth	Pair Corr
0.81	SVM	Silvercorp Metals	Pair Corr
0.75	VHI	Valhi Inc	Pair Corr
0.87	PAAS	Pan American Silver	Pair Corr
0.64	AUST	Austin Gold Corp	Pair Corr
0.75	EU	enCore Energy Corp	Pair Corr
0.74	HL	Hecla Mining Potential Growth	Pair Corr
0.69	IE	Ivanhoe Electric	Pair Corr
0.85	OR	Osisko Gold Ro	Pair Corr
0.65	SA	Seabridge Gold	Pair Corr

Moving against Gold Stock

0.42	GURE	Gulf Resources	Pair Corr
0.48	NORNQ	Noranda Aluminum Holding	Pair Corr
0.44	MKDTY	Molecular Data	Pair Corr

Related Correlations Analysis

	AEM	KGC	HMY	FNV	IAG	CDE	AU	BTG	PAAS
AEM		0.8	0.82	0.92	0.85	0.58	0.49	0.72	0.78	AEM
KGC	0.8		0.72	0.71	0.75	0.63	0.13	0.69	0.93	KGC
HMY	0.82	0.72		0.87	0.71	0.66	0.64	0.83	0.76	HMY
FNV	0.92	0.71	0.87		0.7	0.53	0.59	0.84	0.71	FNV
IAG	0.85	0.75	0.71	0.7		0.69	0.35	0.56	0.75	IAG
CDE	0.58	0.63	0.66	0.53	0.69		0.24	0.72	0.61	CDE
AU	0.49	0.13	0.64	0.59	0.35	0.24		0.43	0.17	AU
BTG	0.72	0.69	0.83	0.84	0.56	0.72	0.43		0.65	BTG
PAAS	0.78	0.93	0.76	0.71	0.75	0.61	0.17	0.65		PAAS
	AEM	KGC	HMY	FNV	IAG	CDE	AU	BTG	PAAS

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Risk-Adjusted Indicators

There is a big difference between Gold Stock performing well and Gold Fields 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 Gold Fields' 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
AEM	1.41	0.06	(0.04)	(0.19)	1.85	(1.55)	3.08	(3.02)	11.67
KGC	2.02	0.15	0.02	0.97	2.74	(2.08)	5.41	(4.01)	18.27
HMY	2.69	(0.15)	0.00	(0.55)	0.00	0.00	7.63	(5.89)	17.74
FNV	1.24	(0.03)	0.00	(0.06)	0.00	0.00	2.46	(2.61)	8.26
IAG	2.62	0.10	0.00	0.61	3.26	(2.93)	6.95	(4.35)	25.09
CDE	3.06	0.04	0.00	0.17	3.79	(3.28)	9.37	(5.06)	28.59
AU	1.99	(0.32)	0.00	(1.02)	0.00	0.00	3.52	(4.20)	14.65
BTG	2.10	0.03	(0.01)	0.18	2.26	(2.48)	3.90	(4.09)	17.88
PAAS	2.19	0.03	(0.02)	0.20	2.31	(2.58)	6.05	(4.04)	14.73

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Gold Fields Correlations

Moving together with Gold Stock

Moving against Gold Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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