Newmont Correlations
| NEM Stock | 149.96 4.19 2.87% |
The current 90-days correlation between Newmont and Clearvue Technologies is -0.03 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Newmont Correlation With Market
Average diversification
The correlation between Newmont and DJI is 0.11 (i.e., Average 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.
Newmont |
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
| 0.98 | NST | Northern Star Resources | PairCorr |
| 0.96 | EVN | Evolution Mining | PairCorr |
| 0.79 | AAI | Alcoa | PairCorr |
| 0.96 | RMS | Ramelius Resources | PairCorr |
| 0.9 | SFR | Sandfire Resources | PairCorr |
| 0.96 | GMD | Genesis Minerals | PairCorr |
| 0.78 | CBAPM | Commonwealth Bank | PairCorr |
| 0.63 | CBAPJ | Commonwealth Bank | PairCorr |
| 0.81 | CBAPK | Commonwealth Bank | PairCorr |
| 0.75 | AMU | American Uranium Split | PairCorr |
| 0.96 | GED | Golden Deeps | PairCorr |
| 0.83 | A1N | Arn Media | PairCorr |
| 0.64 | ZIM | Zimplats Holdings | PairCorr |
| 0.86 | KAM | K2 Asset Management | PairCorr |
| 0.94 | PRU | Perseus Mining | PairCorr |
| 0.94 | SHN | Sunshine Metals | PairCorr |
| 0.65 | WES | Wesfarmers | PairCorr |
| 0.95 | LYC | Lynas Rare EARTHS | PairCorr |
| 0.85 | ASG | Autosports Group | PairCorr |
| 0.61 | LOV | Lovisa Holdings | PairCorr |
| 0.71 | CML | Connected Minerals | PairCorr |
| 0.72 | BHP | BHP Group Earnings Call This Week | PairCorr |
| 0.69 | CQR | Charter Hall Retail | PairCorr |
| 0.88 | QFE | Quickfee | PairCorr |
| 0.89 | THL | Tourism Holdings Rentals | PairCorr |
| 0.88 | EXR | Elixir Energy | PairCorr |
| 0.64 | GSN | Great Southern Mining | PairCorr |
| 0.91 | DOW | Downer Edi | PairCorr |
Moving against Newmont Stock
Related Correlations Analysis
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
| High negative correlations
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CPV | 4.29 | 0.37 | 0.06 | 0.43 | 4.16 | 9.09 | 47.95 | |||
| PIC | 0.70 | 0.00 | (0.03) | 0.03 | 0.88 | 1.63 | 4.97 | |||
| CINPA | 0.10 | 0.05 | 0.00 | (1.22) | 0.00 | 0.00 | 3.52 | |||
| AUI | 0.43 | 0.06 | 0.03 | 1.49 | 0.44 | 1.15 | 3.34 | |||
| AGI | 1.25 | 0.13 | 0.02 | (0.16) | 1.54 | 2.91 | 8.72 | |||
| FSI | 0.77 | (0.05) | 0.00 | (0.03) | 0.00 | 2.51 | 11.63 | |||
| PMV | 1.23 | (0.21) | 0.00 | (0.37) | 0.00 | 2.25 | 8.02 |
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.Did you try this?
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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.
| EMBA BEng | Executive Officer | Profile | |
| Brian CPA | Group Analysis | Profile | |
| Mark Casper | Group Closure | Profile | |
| Peter JD | Executive Officer | Profile | |
| Bernard Wessels | Managing America | Profile | |
| Alwyn Pretorius | Managing Guinea | Profile |