Kinross Gold Correlations

KGC Stock

USD 12.27 0.07 0.57%

The current 90-days correlation between Kinross Gold and Alamos Gold is 0.79 (i.e., Poor diversification). The correlation of Kinross 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.

Kinross Gold Correlation With Market

Average diversification

The correlation between Kinross Gold and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinross Gold and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Kinross Stock refer to our How to Trade Kinross Stock guide.

Moving together with Kinross Stock

0.84	AGI	Alamos Gold	Pair Corr
0.95	HMY	Harmony Gold Mining	Pair Corr
0.85	IAG	IAMGold	Pair Corr
0.88	NGD	New Gold Aggressive Push	Pair Corr
0.65	CX	Cemex SAB de	Pair Corr
0.62	MP	MP Materials Corp Sell-off Trend	Pair Corr
0.82	NB	NioCorp Developments	Pair Corr

Moving against Kinross Stock

0.69	IE	Ivanhoe Electric	Pair Corr
0.51	NX	Quanex Building Products	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.66	NEXA	Nexa Resources SA	Pair Corr
0.53	WS	Worthington Steel	Pair Corr
0.4	TT	Trane Technologies plc	Pair Corr

Related Correlations Analysis

	EGO	CDE	GORO	AGI	AEM	PAAS	GFI	HMY
EGO		0.51	-0.12	-0.37	-0.03	0.01	-0.02	-0.3	EGO
CDE	0.51		-0.23	-0.07	0.19	0.21	0.14	0.26	CDE
GORO	-0.12	-0.23		0.62	0.74	0.65	0.77	0.48	GORO
AGI	-0.37	-0.07	0.62		0.69	0.66	0.67	0.87	AGI
AEM	-0.03	0.19	0.74	0.69		0.98	0.99	0.66	AEM
PAAS	0.01	0.21	0.65	0.66	0.98		0.96	0.61	PAAS
GFI	-0.02	0.14	0.77	0.67	0.99	0.96		0.61	GFI
HMY	-0.3	0.26	0.48	0.87	0.66	0.61	0.61		HMY
	EGO	CDE	GORO	AGI	AEM	PAAS	GFI	HMY

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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

GFI	+ 0.99	AEM
PAAS	+ 0.98	AEM
GFI	+ 0.96	PAAS
HMY	+ 0.87	AGI
GFI	+ 0.77	GORO
AEM	+ 0.74	GORO

High negative correlations

AGI	- 0.37	EGO
HMY	- 0.3	EGO
GORO	- 0.23	CDE
GORO	- 0.12	EGO
AGI	- 0.07	CDE
AEM	- 0.03	EGO

Risk-Adjusted Indicators

There is a big difference between Kinross Stock performing well and Kinross 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 Kinross 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
EGO	2.07	(0.07)	0.00	(0.25)	0.00	0.00	4.42	(5.33)	16.79
CDE	3.12	(0.02)	0.00	(0.09)	0.00	0.00	6.90	(6.80)	18.88
GORO	6.33	1.59	0.22	0.84	5.47	(9.06)	16.67	(8.57)	49.70
AGI	1.61	0.43	0.21	0.85	1.79	(1.73)	3.91	(3.38)	8.44
AEM	1.37	0.49	0.34	(1.92)	1.29	(1.64)	3.84	(2.13)	9.76
PAAS	2.02	0.44	0.22	(3.47)	2.00	(2.32)	4.83	(3.75)	11.48
GFI	1.97	0.77	0.41	(3.30)	1.59	(2.39)	4.16	(2.75)	10.28
HMY	2.32	0.49	0.18	1.23	2.55	(2.50)	5.01	(4.39)	13.50

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