Correlation Between Enduro Metals and CMBTECH NV

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

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

Diversification Opportunities for Enduro Metals and CMBTECH NV

-0.25

Correlation Coefficient

Enduro Metals  CMBTECH NV

Very good diversification

The 3 months correlation between Enduro and CMBTECH is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Enduro Metals and CMBTECH NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CMBTECH NV and Enduro 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 Enduro Metals are associated (or correlated) with CMBTECH NV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CMBTECH NV has no effect on the direction of Enduro Metals i.e., Enduro Metals and CMBTECH NV go up and down completely randomly.

Pair Corralation between Enduro Metals and CMBTECH NV

Assuming the 90 days horizon Enduro Metals is expected to generate 1.28 times more return on investment than CMBTECH NV. However, Enduro Metals is 1.28 times more volatile than CMBTECH NV. It trades about 0.3 of its potential returns per unit of risk. CMBTECH NV is currently generating about 0.06 per unit of risk. If you would invest  11.00  in Enduro Metals on July 19, 2025 and sell it today you would earn a total of  3.00  from holding Enduro Metals or generate 27.27% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Enduro Metals  vs.  CMBTECH NV

Enduro Metals

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Enduro Metals are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile primary indicators, Enduro Metals reported solid returns over the last few months and may actually be approaching a breakup point.

CMBTECH NV

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in CMBTECH NV are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively fragile fundamental drivers, CMBTECH NV may actually be approaching a critical reversion point that can send shares even higher in November 2025.

Pair Trading with Enduro Metals and CMBTECH NV

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

The idea behind Enduro Metals and CMBTECH NV 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.