Newmont Goldcorp Correlations
| NGT Stock | CAD 58.91 0.08 0.14% |
The current 90-days correlation between Newmont Goldcorp Corp and Wheaton Precious Metals is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Newmont Goldcorp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Newmont Goldcorp Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Newmont Goldcorp Correlation With Market
Average diversification
The correlation between Newmont Goldcorp Corp and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newmont Goldcorp Corp and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Newmont Goldcorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Newmont Goldcorp 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 Newmont Goldcorp - 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 Newmont Goldcorp Corp to buy it.
Moving together with Newmont Stock
Moving against Newmont Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Newmont Stock performing well and Newmont Goldcorp 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 Newmont Goldcorp'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WPM | 1.36 | 0.09 | 0.00 | 0.43 | 1.84 | 2.63 | 10.49 | |||
| AEM | 1.38 | 0.08 | 0.00 | 0.33 | 1.65 | 3.56 | 11.64 | |||
| PAAS | 2.10 | 0.10 | 0.04 | 0.23 | 2.09 | 5.93 | 14.72 | |||
| FNV | 1.17 | 0.16 | (0.01) | (0.24) | 1.57 | 2.36 | 8.84 | |||
| EQX | 2.39 | (0.06) | 0.00 | 0.09 | 2.90 | 5.21 | 17.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Newmont Goldcorp 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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Theme RatingsDetermine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |
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Newmont Goldcorp Corporate Management
Elected by the shareholders, the Newmont Goldcorp's board of directors comprises two types of representatives: Newmont Goldcorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Newmont. The board's role is to monitor Newmont Goldcorp's management team and ensure that shareholders' interests are well served. Newmont Goldcorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Newmont Goldcorp's outside directors are responsible for providing unbiased perspectives on the board's policies.
| EMBA BEng | Executive Officer | Profile | |
| Suzanne Retallack | Executive Officer | Profile | |
| Scott Sullivan | Chief Officer | Profile | |
| Peter JD | Executive Officer | Profile |