Sibanye Gold Correlations

SBSW Stock

USD 4.37 0.01 0.23%

The current 90-days correlation between Sibanye Gold and Harmony Gold Mining is 0.74 (i.e., Poor diversification). The correlation of Sibanye 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Sibanye Gold Correlation With Market

Average diversification

The correlation between Sibanye Gold Ltd 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 Sibanye Gold Ltd and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sibanye Gold 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 state.

Moving together with Sibanye Stock

0.77	HL	Hecla Mining	Pair Corr
0.68	VOXR	Vox Royalty Corp	Pair Corr
0.71	ASM	Avino Silver Gold	Pair Corr
0.79	BVN	Compania de Minas	Pair Corr
0.62	MTA	Metalla Royalty Streaming Earnings Call This Week	Pair Corr
0.61	ITRG	Integra Resources Corp Earnings Call This Week	Pair Corr
0.68	TFPM	Triple Flag Precious	Pair Corr
0.75	AG	First Majestic Silver	Pair Corr
0.67	AU	AngloGold Ashanti plc	Pair Corr
0.81	OR	Osisko Gold Ro	Pair Corr
0.78	TX	Ternium SA ADR	Pair Corr
0.63	VALE	Vale SA ADR	Pair Corr
0.76	VZLA	Vizsla Resources Corp	Pair Corr

Moving against Sibanye Stock

0.35	LODE	Comstock Mining	Pair Corr
0.36	FF	FutureFuel Corp	Pair Corr
0.54	ELBM	Electra Battery Materials	Pair Corr
0.47	ASH	Ashland Global Holdings	Pair Corr
0.45	FEAM	5E Advanced Materials	Pair Corr
0.4	FMST	Foremost Lithium Resource	Pair Corr

Related Correlations Analysis

	AU	HMY	EGO	KGC	PAAS	GOLD	AEM	WPM	NEM	GFI
AU		0.97	-0.25	0.95	0.95	0.87	0.98	0.91	0.96	0.97	AU
HMY	0.97		-0.2	0.95	0.92	0.79	0.95	0.85	0.93	0.93	HMY
EGO	-0.25	-0.2		-0.16	-0.22	-0.3	-0.29	-0.3	-0.24	-0.3	EGO
KGC	0.95	0.95	-0.16		0.9	0.75	0.93	0.8	0.92	0.89	KGC
PAAS	0.95	0.92	-0.22	0.9		0.94	0.98	0.96	0.94	0.96	PAAS
GOLD	0.87	0.79	-0.3	0.75	0.94		0.91	0.98	0.87	0.93	GOLD
AEM	0.98	0.95	-0.29	0.93	0.98	0.91		0.95	0.94	0.99	AEM
WPM	0.91	0.85	-0.3	0.8	0.96	0.98	0.95		0.88	0.97	WPM
NEM	0.96	0.93	-0.24	0.92	0.94	0.87	0.94	0.88		0.92	NEM
GFI	0.97	0.93	-0.3	0.89	0.96	0.93	0.99	0.97	0.92		GFI
	AU	HMY	EGO	KGC	PAAS	GOLD	AEM	WPM	NEM	GFI

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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
AEM	+ 0.98	AU
AEM	+ 0.98	PAAS
WPM	+ 0.98	GOLD
HMY	+ 0.97	AU
GFI	+ 0.97	AU

High negative correlations

GFI	- 0.3	EGO
WPM	- 0.3	EGO
GOLD	- 0.3	EGO
AEM	- 0.29	EGO
EGO	- 0.25	AU
NEM	- 0.24	EGO

Risk-Adjusted Indicators

There is a big difference between Sibanye Stock performing well and Sibanye 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 Sibanye 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
AU	2.03	0.61	0.30	1.53	1.75	(2.36)	4.73	(3.33)	12.42
HMY	2.25	0.59	0.22	1.64	2.32	(2.48)	5.01	(4.36)	13.50
EGO	1.99	0.03	0.02	0.01	3.48	(1.84)	4.42	(5.33)	16.79
KGC	1.93	0.39	0.14	0.66	2.45	(1.97)	4.85	(4.94)	12.67
PAAS	2.02	0.28	0.13	0.63	2.23	(2.27)	4.83	(4.14)	11.48
GOLD	1.41	0.22	0.14	0.43	1.62	(1.53)	3.05	(2.73)	10.08
AEM	1.42	0.39	0.22	0.64	1.62	(1.62)	3.84	(2.31)	9.76
WPM	1.36	0.37	0.24	0.54	1.36	(1.46)	2.98	(2.54)	7.59
NEM	1.57	0.31	0.16	0.42	1.90	(1.71)	3.61	(3.35)	9.47
GFI	1.94	0.67	0.39	4.21	1.51	(2.36)	4.18	(2.64)	10.30

Sibanye Gold Corporate Management

Jerry Vilakazi	Non-Executive Independent Director	Profile
Richard Cox	Executive Vice President - SA gold operations	Profile
Keith Rayner	Non-Executive Independent Director	Profile
Mika MSc	Chief Europe	Profile
Shadwick Bessit	Executive Vice President - SA gold operations	Profile
Hartley Dikgale	Executive Vice President - Legal and compliance	Profile

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