Gold Fields Correlations

GFI Stock

USD 24.39 0.07 0.29%

The current 90-days correlation between Gold Fields and Agnico Eagle Mines is 0.86 (i.e., Very poor diversification). The correlation of Gold Fields 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.

Gold Fields Correlation With Market

Significant diversification

The correlation between Gold Fields Ltd and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gold Fields Ltd and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gold Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gold Fields 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 census.

Moving together with Gold Stock

0.87	B	Barrick Mining Symbol Change	Pair Corr
0.66	AG	First Majestic Silver	Pair Corr
0.82	AU	AngloGold Ashanti plc	Pair Corr
0.69	DC	Dakota Gold Corp	Pair Corr
0.72	OR	Osisko Gold Ro	Pair Corr
0.78	SA	Seabridge Gold	Pair Corr
0.87	AEM	Agnico Eagle Mines	Pair Corr
0.65	AGI	Alamos Gold	Pair Corr
0.82	BTG	B2Gold Corp	Pair Corr
0.65	DVS	Dolly Varden Silver Downward Rally	Pair Corr
0.83	EGO	Eldorado Gold Corp	Pair Corr
0.75	FNV	Franco Nevada	Pair Corr
0.86	FSM	Fortuna Silver Mines	Pair Corr

Moving against Gold Stock

0.34	CLF	Cleveland Cliffs	Pair Corr
0.31	DOW	Dow Inc	Pair Corr
0.64	HLP	Hongli Group Ordinary	Pair Corr
0.5	HUN	Huntsman	Pair Corr

Related Correlations Analysis

	AEM	KGC	HMY	FNV	IAG	CDE	AU	BTG	PAAS
AEM		0.93	0.69	0.95	0.95	0.5	0.9	0.78	0.59	AEM
KGC	0.93		0.68	0.91	0.88	0.58	0.95	0.7	0.44	KGC
HMY	0.69	0.68		0.71	0.76	-0.05	0.57	0.21	0.14	HMY
FNV	0.95	0.91	0.71		0.89	0.42	0.84	0.67	0.43	FNV
IAG	0.95	0.88	0.76	0.89		0.4	0.85	0.72	0.6	IAG
CDE	0.5	0.58	-0.05	0.42	0.4		0.73	0.8	0.5	CDE
AU	0.9	0.95	0.57	0.84	0.85	0.73		0.79	0.52	AU
BTG	0.78	0.7	0.21	0.67	0.72	0.8	0.79		0.79	BTG
PAAS	0.59	0.44	0.14	0.43	0.6	0.5	0.52	0.79		PAAS
	AEM	KGC	HMY	FNV	IAG	CDE	AU	BTG	PAAS

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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

FNV	+ 0.95	AEM
IAG	+ 0.95	AEM
AU	+ 0.95	KGC
KGC	+ 0.93	AEM
FNV	+ 0.91	KGC
AU	+ 0.9	AEM

High negative correlations

CDE

- 0.05

HMY

Risk-Adjusted Indicators

There is a big difference between Gold Stock performing well and Gold Fields 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 Gold Fields' 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
AEM	1.82	0.26	0.08	(62.18)	2.55	(1.98)	5.33	(3.35)	14.92
KGC	1.96	0.42	0.14	(13.11)	2.50	(2.27)	5.05	(3.73)	17.84
HMY	3.05	0.32	0.07	2.39	3.93	(3.19)	6.45	(6.54)	23.81
FNV	1.53	0.15	0.05	(3.09)	2.19	(1.56)	4.84	(3.06)	11.81
IAG	2.78	0.35	0.08	(1.94)	4.07	(2.83)	5.75	(5.50)	22.32
CDE	3.18	0.62	0.18	(2.22)	2.92	(3.86)	7.83	(4.52)	25.08
AU	2.94	0.64	0.17	5.10	3.29	(3.39)	6.99	(5.52)	20.49
BTG	2.34	0.26	0.07	(5.18)	3.25	(2.41)	5.56	(3.88)	14.45
PAAS	2.38	0.17	0.04	0.26	4.02	(2.44)	6.49	(4.55)	28.48

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