BARRICK Correlations

06849RAK8

102.46 4.29 4.37%

The current 90-days correlation between BARRICK NORTH AMER and Viemed Healthcare is 0.01 (i.e., Significant diversification). The correlation of BARRICK 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.

BARRICK Correlation With Market

Good diversification

The correlation between BARRICK NORTH AMER and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BARRICK NORTH AMER and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BARRICK Bond

0.62

BAER

Bridger Aerospace Buyout Trend

Pair Corr

Moving against BARRICK Bond

0.67	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.66	YMAG	YieldMax Magnificent	Pair Corr
0.58	BILS	SPDR Series Trust	Pair Corr
0.54	90331HPL1	US BANK NATIONAL	Pair Corr
0.47	UAL	United Airlines Holdings Earnings Call This Week	Pair Corr
0.47	XCCC	BondBloxx ETF Trust	Pair Corr
0.45	FETH	Fidelity Advantage Ether Buyout Trend	Pair Corr
0.44	WMT	Walmart	Pair Corr
0.44	GILD	Gilead Sciences	Pair Corr
0.43	KODK	Eastman Kodak	Pair Corr
0.37	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.35	VUG	Vanguard Growth Index	Pair Corr
0.64	MURSX	Msif Real Estate	Pair Corr
0.56	PTNQ	Pacer Trendpilot 100	Pair Corr
0.55	XONE	Bondbloxx Bloomberg One	Pair Corr
0.54	DDFCX	Delaware Floating Rate	Pair Corr
0.54	MAFRX	Pioneer Multi Asset	Pair Corr
0.51	CMNIX	Calamos Market Neutral	Pair Corr
0.51	AHLPX	American Beacon Ahl	Pair Corr
0.49	LRRVX	Floating Rate	Pair Corr
0.49	TSDIX	Touchstone Ultra Short	Pair Corr
0.47	CBHCX	Victory Cemp Market	Pair Corr
0.45	WUCT	UBS AG London	Pair Corr
0.42	PBDC	Putnam ETF Trust	Pair Corr
0.33	ICMBX	Intrepid Capital	Pair Corr
0.31	TFLO	iShares Treasury Floating	Pair Corr
0.31	SWSFX	Ultra Short Fixed	Pair Corr

Related Correlations Analysis

	VMD	IDR	BTUMF	EFRMF	GATO	CRTTF	SYRE	VMC
VMD		0.69	0.08	0.0	0.67	0.0	0.66	0.34	VMD
IDR	0.69		-0.37	0.0	0.81	0.0	0.51	-0.22	IDR
BTUMF	0.08	-0.37		0.0	-0.22	0.0	-0.04	0.51	BTUMF
EFRMF	0.0	0.0	0.0		0.0	-1.0	0.0	0.0	EFRMF
GATO	0.67	0.81	-0.22	0.0		0.0	0.72	0.02	GATO
CRTTF	0.0	0.0	0.0	-1.0	0.0		0.0	0.0	CRTTF
SYRE	0.66	0.51	-0.04	0.0	0.72	0.0		0.36	SYRE
VMC	0.34	-0.22	0.51	0.0	0.02	0.0	0.36		VMC
	VMD	IDR	BTUMF	EFRMF	GATO	CRTTF	SYRE	VMC

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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

GATO	+ 0.81	IDR
SYRE	+ 0.72	GATO
IDR	+ 0.69	VMD
GATO	+ 0.67	VMD
SYRE	+ 0.66	VMD
SYRE	+ 0.51	IDR

High negative correlations

CRTTF	- 1.0	EFRMF
BTUMF	- 0.37	IDR
GATO	- 0.22	BTUMF
VMC	- 0.22	IDR
SYRE	- 0.04	BTUMF
VMC	- 0.0	CRTTF

Risk-Adjusted Indicators

There is a big difference between BARRICK Bond performing well and BARRICK Corporate Bond 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 BARRICK'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
VMD	1.47	(0.10)	0.00	(0.24)	0.00	0.00	3.38	(3.23)	10.21
IDR	3.31	(0.32)	0.00	4.48	0.00	0.00	5.26	(7.40)	31.52
BTUMF	0.81	0.02	0.00	0.07	0.00	0.00	0.00	0.00	23.75
EFRMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GATO	2.72	(0.14)	0.00	0.17	0.00	0.00	6.82	(5.10)	22.78
CRTTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SYRE	2.97	(0.70)	0.00	(0.41)	0.00	0.00	4.46	(8.31)	15.52
VMC	1.10	0.12	0.09	0.26	1.06	(1.31)	2.02	(1.96)	9.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in BARRICK 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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