Correlation Between C3 Metals and Amplitude

Can any of the company-specific risk be diversified away by investing in both C3 Metals and Amplitude 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 C3 Metals and Amplitude into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between C3 Metals and Amplitude, you can compare the effects of market volatilities on C3 Metals and Amplitude 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 C3 Metals with a short position of Amplitude. Check out your portfolio center. Please also check ongoing floating volatility patterns of C3 Metals and Amplitude.

Diversification Opportunities for C3 Metals and Amplitude

-0.23

Correlation Coefficient

C3 Metals  Amplitude

Very good diversification

The 3 months correlation between CUAUF and Amplitude is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding C3 Metals and Amplitude in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplitude and C3 Metals 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 C3 Metals are associated (or correlated) with Amplitude. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplitude has no effect on the direction of C3 Metals i.e., C3 Metals and Amplitude go up and down completely randomly.

Pair Corralation between C3 Metals and Amplitude

Assuming the 90 days horizon C3 Metals is expected to generate 1.54 times more return on investment than Amplitude. However, C3 Metals is 1.54 times more volatile than Amplitude. It trades about 0.13 of its potential returns per unit of risk. Amplitude is currently generating about 0.0 per unit of risk. If you would invest  66.00  in C3 Metals on September 8, 2025 and sell it today you would earn a total of  23.00  from holding C3 Metals or generate 34.85% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	98.48%
Values	Daily Returns

C3 Metals  vs.  Amplitude

C3 Metals

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in C3 Metals are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly conflicting basic indicators, C3 Metals reported solid returns over the last few months and may actually be approaching a breakup point.

Amplitude

Risk-Adjusted Performance

Weakest

Over the last 90 days Amplitude has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent basic indicators, Amplitude is not utilizing all of its potentials. The recent stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with C3 Metals and Amplitude

The main advantage of trading using opposite C3 Metals and Amplitude positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C3 Metals position performs unexpectedly, Amplitude 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 Amplitude will offset losses from the drop in Amplitude's long position.

The idea behind C3 Metals and Amplitude 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.