Harmony Gold Correlations

HGMCF Stock

USD 9.50 0.00 0.00%

The current 90-days correlation between Harmony Gold Mining and Harmony Gold Mining is -0.04 (i.e., Good diversification). The correlation of Harmony 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.

Harmony Gold Correlation With Market

Significant diversification

The correlation between Harmony Gold Mining and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harmony Gold Mining and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Harmony Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harmony Gold 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 Harmony Gold - 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 Harmony Gold Mining to buy it.

Moving against Harmony Pink Sheet

0.56	WF	Woori Financial Group	Pair Corr
0.39	NCMGF	Newcrest Mining	Pair Corr
0.37	NCMGY	Newcrest Mining	Pair Corr
0.35	SHG	Shinhan Financial	Pair Corr
0.74	PG	Procter Gamble Sell-off Trend	Pair Corr
0.61	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.4	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.31	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	HMY	ID	RRTLX	AMPL	IO	SEIC	EMBC	KOD	GVPIX	VTARX
HMY		-0.06	0.24	0.08	-0.3	-0.06	-0.34	-0.17	-0.19	0.09	HMY
ID	-0.06		0.57	0.31	0.9	0.81	0.35	0.87	-0.59	0.81	ID
RRTLX	0.24	0.57		0.41	0.58	0.42	0.06	0.37	-0.27	0.85	RRTLX
AMPL	0.08	0.31	0.41		0.32	0.32	-0.11	0.24	-0.26	0.46	AMPL
IO	-0.3	0.9	0.58	0.32		0.69	0.43	0.79	-0.39	0.77	IO
SEIC	-0.06	0.81	0.42	0.32	0.69		0.17	0.96	-0.86	0.77	SEIC
EMBC	-0.34	0.35	0.06	-0.11	0.43	0.17		0.3	0.18	0.08	EMBC
KOD	-0.17	0.87	0.37	0.24	0.79	0.96	0.3		-0.77	0.74	KOD
GVPIX	-0.19	-0.59	-0.27	-0.26	-0.39	-0.86	0.18	-0.77		-0.62	GVPIX
VTARX	0.09	0.81	0.85	0.46	0.77	0.77	0.08	0.74	-0.62		VTARX
	HMY	ID	RRTLX	AMPL	IO	SEIC	EMBC	KOD	GVPIX	VTARX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

KOD	+ 0.96	SEIC
IO	+ 0.9	ID
KOD	+ 0.87	ID
VTARX	+ 0.85	RRTLX
SEIC	+ 0.81	ID
VTARX	+ 0.81	ID

High negative correlations

GVPIX	- 0.86	SEIC
GVPIX	- 0.77	KOD
VTARX	- 0.62	GVPIX
GVPIX	- 0.59	ID
GVPIX	- 0.39	IO
EMBC	- 0.34	HMY

Risk-Adjusted Indicators

There is a big difference between Harmony Pink Sheet performing well and Harmony 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 Harmony 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
HMY	2.71	(0.13)	0.00	(0.42)	0.00	0.00	7.63	(5.89)	17.74
ID	3.84	0.90	0.16	1.45	3.99	(5.08)	7.89	(6.67)	20.54
RRTLX	0.23	(0.02)	(0.30)	0.07	0.23	(0.25)	0.48	(0.56)	1.36
AMPL	4.39	0.56	0.08	19.63	5.25	(5.10)	10.34	(8.00)	31.98
IO	5.45	1.36	0.22	1.15	5.24	(6.57)	13.49	(7.35)	30.64
SEIC	0.80	0.20	0.18	0.37	0.55	(0.94)	1.57	(1.56)	7.23
EMBC	2.72	0.32	0.13	0.31	2.90	(2.93)	6.55	(6.00)	19.66
KOD	3.14	1.20	0.44	0.67	2.26	(4.21)	9.70	(4.87)	18.79
GVPIX	0.81	(0.05)	0.00	0.30	0.00	0.00	1.61	(1.89)	5.20
VTARX	0.36	0.01	(0.11)	0.15	0.41	(0.40)	0.84	(0.84)	2.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Harmony Gold 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.

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Harmony Gold Corporate Management

BA Ed	Exec Director	Profile
BComm BComm	Financial Director	Profile
Siphamandla Mthethwa	Ex Engineering	Profile
BEng BSc	Chief Projects	Profile
Jared Coetzer	Head Relations	Profile
Anton BTech	Sr Capital	Profile

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