Correlation Between TD Holdings and Alphamin Resources

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Can any of the company-specific risk be diversified away by investing in both TD Holdings and Alphamin Resources at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining TD Holdings and Alphamin Resources into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TD Holdings and Alphamin Resources Corp, you can compare the effects of market volatilities on TD Holdings and Alphamin Resources and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in TD Holdings with a short position of Alphamin Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of TD Holdings and Alphamin Resources.

Diversification Opportunities for TD Holdings and Alphamin Resources

GLGAlphaminDiversified AwayGLGAlphaminDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between GLG and Alphamin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TD Holdings and Alphamin Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alphamin Resources Corp and TD Holdings is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on TD Holdings are associated (or correlated) with Alphamin Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alphamin Resources Corp has no effect on the direction of TD Holdings i.e., TD Holdings and Alphamin Resources go up and down completely randomly.

Pair Corralation between TD Holdings and Alphamin Resources

If you would invest (100.00) in TD Holdings on November 23, 2024 and sell it today you would earn a total of  100.00  from holding TD Holdings or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

TD Holdings  vs.  Alphamin Resources Corp

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb 01020304050
JavaScript chart by amCharts 3.21.15GLG AFMJF
       Timeline  
TD Holdings 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days TD Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable essential indicators, TD Holdings is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.
Alphamin Resources Corp 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Alphamin Resources Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's forward-looking indicators remain nearly stable which may send shares a bit higher in March 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb0.50.550.60.650.70.750.80.85

TD Holdings and Alphamin Resources Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.0050.0100.0150.0200.0250.0300.035
JavaScript chart by amCharts 3.21.15GLG AFMJF
       Returns  

Pair Trading with TD Holdings and Alphamin Resources

The main advantage of trading using opposite TD Holdings and Alphamin Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TD Holdings position performs unexpectedly, Alphamin Resources can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Alphamin Resources will offset losses from the drop in Alphamin Resources' long position.
The idea behind TD Holdings and Alphamin Resources Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.

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