Correlation Between EMX Royalty and Integra Resources

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

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

Diversification Opportunities for EMX Royalty and Integra Resources

0.96

Correlation Coefficient

EMX Royalty  Integra Resources

Almost no diversification

The 3 months correlation between EMX and Integra is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding EMX Royalty Corp and Integra Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra Resources Corp and EMX Royalty 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 EMX Royalty Corp are associated (or correlated) with Integra Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra Resources Corp has no effect on the direction of EMX Royalty i.e., EMX Royalty and Integra Resources go up and down completely randomly.

Pair Corralation between EMX Royalty and Integra Resources

Considering the 90-day investment horizon EMX Royalty Corp is expected to generate 0.81 times more return on investment than Integra Resources. However, EMX Royalty Corp is 1.24 times less risky than Integra Resources. It trades about 0.39 of its potential returns per unit of risk. Integra Resources Corp is currently generating about 0.31 per unit of risk. If you would invest  251.00  in EMX Royalty Corp on July 1, 2025 and sell it today you would earn a total of  245.00  from holding EMX Royalty Corp or generate 97.61% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Strong
Accuracy	100.0%
Values	Daily Returns

EMX Royalty Corp  vs.  Integra Resources Corp

EMX Royalty Corp

Risk-Adjusted Performance

Strong

Compared to the overall equity markets, risk-adjusted returns on investments in EMX Royalty Corp are ranked lower than 30 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unfluctuating primary indicators, EMX Royalty showed solid returns over the last few months and may actually be approaching a breakup point.

Integra Resources Corp

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Integra Resources Corp are ranked lower than 24 (%) 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.

Pair Trading with EMX Royalty and Integra Resources

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

The idea behind EMX Royalty Corp and Integra 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.