Correlation Between Goldrich Mining and Titan America

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

By analyzing existing cross correlation between Goldrich Mining Co and Titan America SA, you can compare the effects of market volatilities on Goldrich Mining and Titan America 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 Goldrich Mining with a short position of Titan America. Check out your portfolio center. Please also check ongoing floating volatility patterns of Goldrich Mining and Titan America.

Diversification Opportunities for Goldrich Mining and Titan America

0.0

Correlation Coefficient

Goldrich Mining  Titan America

Pay attention - limited upside

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

Pair Corralation between Goldrich Mining and Titan America

If you would invest  1,376  in Titan America SA on May 6, 2025 and sell it today you would earn a total of  4.00  from holding Titan America SA or generate 0.29% return on investment over 90 days.

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

Goldrich Mining Co  vs.  Titan America SA

Goldrich Mining

Risk-Adjusted Performance

Very Weak

Over the last 90 days Goldrich Mining Co has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound primary indicators, Goldrich Mining is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Titan America SA

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Titan America SA are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy basic indicators, Titan America is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Goldrich Mining and Titan America

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

The idea behind Goldrich Mining Co and Titan America SA 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.

Check out your portfolio center.

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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.