Barrick Mining Correlations

B Stock

USD 21.60 0.14 0.65%

The current 90-days correlation between Barrick Mining and Corning Incorporated is 0.16 (i.e., Average diversification). The correlation of Barrick Mining 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 Mining Correlation With Market

Modest diversification

The correlation between Barrick Mining and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barrick Mining and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Barrick Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Barrick Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

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

Moving together with Barrick Stock

0.8	EGO	Eldorado Gold Corp	Pair Corr
0.61	PKX	POSCO Holdings	Pair Corr
0.72	SAND	Sandstorm Gold Buyout Trend	Pair Corr
0.66	AUST	Austin Gold Corp	Pair Corr
0.64	CTGO	Contango ORE	Pair Corr
0.71	X	United States Steel	Pair Corr
0.84	AG	First Majestic Silver Aggressive Push	Pair Corr
0.81	AU	AngloGold Ashanti plc	Pair Corr
0.8	DC	Dakota Gold Corp Buyout Trend	Pair Corr
0.65	EU	enCore Energy Corp	Pair Corr
0.74	HL	Hecla Mining Aggressive Push	Pair Corr
0.68	IE	Ivanhoe Electric	Pair Corr
0.78	MP	MP Materials Corp	Pair Corr

Moving against Barrick Stock

0.55	SID	Companhia Siderurgica	Pair Corr
0.35	INHD	Inno Holdings Common Buyout Trend	Pair Corr

Related Correlations Analysis

	GGB	ZEUS	HDSN	GLW	CAH	NX	TKLF	FSTR
GGB		0.32	0.69	0.8	0.74	0.74	0.58	0.36	GGB
ZEUS	0.32		0.59	0.52	0.53	0.54	0.42	0.65	ZEUS
HDSN	0.69	0.59		0.89	0.93	0.72	0.81	0.38	HDSN
GLW	0.8	0.52	0.89		0.94	0.72	0.75	0.44	GLW
CAH	0.74	0.53	0.93	0.94		0.67	0.74	0.43	CAH
NX	0.74	0.54	0.72	0.72	0.67		0.49	0.56	NX
TKLF	0.58	0.42	0.81	0.75	0.74	0.49		-0.03	TKLF
FSTR	0.36	0.65	0.38	0.44	0.43	0.56	-0.03		FSTR
	GGB	ZEUS	HDSN	GLW	CAH	NX	TKLF	FSTR

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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

CAH	+ 0.94	GLW
CAH	+ 0.93	HDSN
GLW	+ 0.89	HDSN
TKLF	+ 0.81	HDSN
GLW	+ 0.8	GGB
TKLF	+ 0.75	GLW

High negative correlations

FSTR

- 0.03

TKLF

Risk-Adjusted Indicators

There is a big difference between Barrick Stock performing well and Barrick Mining 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 Barrick Mining'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
GGB	2.24	0.21	0.04	(0.84)	2.67	(2.59)	4.96	(4.31)	14.01
ZEUS	2.02	0.07	0.03	0.15	2.82	(1.98)	5.53	(3.90)	14.85
HDSN	2.51	0.42	0.17	0.44	2.30	(3.29)	8.29	(4.02)	20.60
GLW	1.38	0.13	0.06	0.19	2.22	(1.47)	2.91	(2.40)	14.05
CAH	1.12	0.26	0.12	0.52	1.44	(1.13)	2.75	(2.63)	8.40
NX	3.06	0.06	0.03	0.13	3.19	(3.94)	9.09	(4.67)	18.08
TKLF	1.72	0.21	0.05	(0.80)	1.86	(2.23)	5.50	(3.78)	13.92
FSTR	1.93	0.18	0.07	0.24	2.62	(2.05)	4.35	(3.94)	18.32

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