Correlation Between Fortuna Silver and CVRx

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

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

Diversification Opportunities for Fortuna Silver and CVRx

0.11

Correlation Coefficient

Fortuna Silver  CVRx

Average diversification

The 3 months correlation between Fortuna and CVRx is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Fortuna Silver Mines and CVRx Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CVRx Inc and Fortuna Silver 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 Fortuna Silver Mines are associated (or correlated) with CVRx. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CVRx Inc has no effect on the direction of Fortuna Silver i.e., Fortuna Silver and CVRx go up and down completely randomly.

Pair Corralation between Fortuna Silver and CVRx

Considering the 90-day investment horizon Fortuna Silver Mines is expected to generate 0.85 times more return on investment than CVRx. However, Fortuna Silver Mines is 1.18 times less risky than CVRx. It trades about 0.07 of its potential returns per unit of risk. CVRx Inc is currently generating about 0.03 per unit of risk. If you would invest  843.00  in Fortuna Silver Mines on September 11, 2025 and sell it today you would earn a total of  107.00  from holding Fortuna Silver Mines or generate 12.69% return on investment over 90 days.

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

Fortuna Silver Mines  vs.  CVRx Inc

Fortuna Silver Mines

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Fortuna Silver Mines are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of very conflicting basic indicators, Fortuna Silver displayed solid returns over the last few months and may actually be approaching a breakup point.

CVRx Inc

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in CVRx Inc are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain basic indicators, CVRx may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Pair Trading with Fortuna Silver and CVRx

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

The idea behind Fortuna Silver Mines and CVRx Inc 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.