Newmont Correlations

Stocks . Germany . 
Stock . Newmont
NMM Stock  EUR 35.55  0.94  2.58%   
The current 90-days correlation between Newmont and Norsk Hydro ASA is 0.12 (i.e., Average diversification). The correlation of Newmont 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.

Newmont Correlation With Market

Significant diversification

The correlation between Newmont and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newmont and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Newmont 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 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 - 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 to buy it.

Moving together with Newmont Stock

  0.92ABR Barrick GoldPairCorr
  0.77SSU Samsung ElectronicsPairCorr
  0.82PKX POSCO HoldingsPairCorr
  0.79LGLG LG ElectronicsPairCorr

Moving against Newmont Stock

  0.79PPB Flutter Entertainment PLCPairCorr
  0.775EE MEBUKI FINANCIALPairCorr
  0.664FK Fukuoka FinancialPairCorr
  0.53C6TB CHINA BANK ADR20PairCorr
  0.5ICKB INDCOMMBK CHINA ADR20PairCorr
  0.42TOMA Toyota MotorPairCorr
  0.4ICK Industrial and CommercialPairCorr
  0.922T9A TRAINLINE PLC LSPairCorr
  0.87QAN Qantas AirwaysPairCorr
  0.87WD5A TRAVEL LEISURE DLPairCorr
  0.852CDA Controladora Vuela CompaaPairCorr
  0.84PTX Palantir TechnologiesPairCorr
  0.83NT4 Northern TrustPairCorr
  0.8HI91 Hilton Worldwide HoldingsPairCorr
  0.8PNP PNC FinancialPairCorr
  0.79EQN2 EquinixPairCorr
  0.77RC2 RCM TECHNOLOGIESPairCorr
  0.74SYY SyscoPairCorr
  0.73GOB Compagnie de SaintPairCorr
  0.71M5V EHEALTHPairCorr
  0.66MSF MicrosoftPairCorr
  0.62APC Apple IncPairCorr
  0.57WX7 Corporate Office ProPairCorr
  0.51HXL HexcelPairCorr
  0.882WY Wyndham Hotels ResortsPairCorr
  0.86SK3 Smurfit Kappa GroupPairCorr
  0.77LIE Sun Life FinancialPairCorr
  0.75WX1 Acadia Realty TrustPairCorr
  0.73EN3 EnbridgePairCorr
  0.73AF4 HANOVER INSURANCEPairCorr

Related Correlations Analysis

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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   
VUSA
+ 0.86
RS6
VUSA
+ 0.74
3RKU
MEL
+ 0.74
VUSA
9K1
+ 0.73
2DG
2DG
+ 0.66
8SP
MEL
+ 0.6
3RKU
  
High negative correlations   
VUSA
- 0.91
2DG
3RKU
- 0.88
9K1
RS6
- 0.85
2DG
VUSA
- 0.84
9K1
MEL
- 0.73
9K1
MEL
- 0.68
2DG

Risk-Adjusted Indicators

There is a big difference between Newmont Stock performing well and Newmont 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'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Newmont 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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Newmont Corporate Management

Elected by the shareholders, the Newmont's board of directors comprises two types of representatives: Newmont 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's management team and ensure that shareholders' interests are well served. Newmont'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's outside directors are responsible for providing unbiased perspectives on the board's policies.
Nancy LipsonExec CounselProfile
Scott SullivanChief OfficerProfile
Luis CanepariVP OfficerProfile
Thomas PalmerCEO PresProfile
Brian TaboltEx CFOProfile
Ramsey MusaVP ChainProfile
Joshua CageInterim OfficerProfile
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