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Gold/Mining/Energy : Gold Price Monitor
GDXJ 120.00+2.0%Dec 22 4:00 PM EST
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To: Enigma who wrote (50417)3/15/2000 2:41:00 PM
From: goldsheet  Read Replies (2) of 116822
 
The reason for ABX/NEM difference is so obvious;
Newmont is simply more volatile than Barrick
On up days, NEM is usually up more than ABX
On down days, NEM is usually down more than ABX

I looked at the last 300 trading days, calculated the daily
changes for each, and ended up with an average ratio of 1.6

If ABX goes up 1%, NEM goes up 1.6% (on average)
If ABX goes down 1%, NEM goes down 1.6% (on average)

There will be day-to-day fluctuations and
exceptions when one goes up and the other down.

Today, however, the ratio seems pretty close:

quote.yahoo.com^xau+abx+nem&d=t

ABX down 1.88%, NEM down 2.57%, ratio= 1.4
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