Correlation Between Integra Resources and Blackwolf Copper

Can any of the company-specific risk be diversified away by investing in both Integra Resources and Blackwolf Copper 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 Integra Resources and Blackwolf Copper into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Integra Resources Corp and Blackwolf Copper And, you can compare the effects of market volatilities on Integra Resources and Blackwolf Copper 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 Integra Resources with a short position of Blackwolf Copper. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integra Resources and Blackwolf Copper.

Diversification Opportunities for Integra Resources and Blackwolf Copper

0.0

Correlation Coefficient

Integra Resources  Blackwolf Copper

Pay attention - limited upside

The 3 months correlation between Integra and Blackwolf is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Integra Resources Corp and Blackwolf Copper And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackwolf Copper And and Integra Resources 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 Integra Resources Corp are associated (or correlated) with Blackwolf Copper. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackwolf Copper And has no effect on the direction of Integra Resources i.e., Integra Resources and Blackwolf Copper go up and down completely randomly.

Pair Corralation between Integra Resources and Blackwolf Copper

If you would invest  87.00  in Integra Resources Corp on December 30, 2024 and sell it today you would earn a total of  37.00  from holding Integra Resources Corp or generate 42.53% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Integra Resources Corp  vs.  Blackwolf Copper And

Integra Resources Corp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Integra Resources Corp are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Integra Resources reported solid returns over the last few months and may actually be approaching a breakup point.

Blackwolf Copper And

Risk-Adjusted Performance

Very Weak

Over the last 90 days Blackwolf Copper And has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable technical and fundamental indicators, Blackwolf Copper is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Integra Resources and Blackwolf Copper

The main advantage of trading using opposite Integra Resources and Blackwolf Copper positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integra Resources position performs unexpectedly, Blackwolf Copper 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 Blackwolf Copper will offset losses from the drop in Blackwolf Copper's long position.

The idea behind Integra Resources Corp and Blackwolf Copper And 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.