Correlation Between JSC Halyk and Zijin Mining

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

By analyzing existing cross correlation between JSC Halyk bank and Zijin Mining Group, you can compare the effects of market volatilities on JSC Halyk and Zijin Mining 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 JSC Halyk with a short position of Zijin Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and Zijin Mining.

Diversification Opportunities for JSC Halyk and Zijin Mining

0.3

Correlation Coefficient

JSC Halyk  Zijin Mining

Weak diversification

The 3 months correlation between JSC and Zijin is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding JSC Halyk bank and Zijin Mining Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zijin Mining Group and JSC Halyk 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 JSC Halyk bank are associated (or correlated) with Zijin Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zijin Mining Group has no effect on the direction of JSC Halyk i.e., JSC Halyk and Zijin Mining go up and down completely randomly.

Pair Corralation between JSC Halyk and Zijin Mining

Assuming the 90 days trading horizon JSC Halyk is expected to generate 2.45 times less return on investment than Zijin Mining. In addition to that, JSC Halyk is 1.02 times more volatile than Zijin Mining Group. It trades about 0.04 of its total potential returns per unit of risk. Zijin Mining Group is currently generating about 0.09 per unit of volatility. If you would invest  316.00  in Zijin Mining Group on September 16, 2025 and sell it today you would earn a total of  54.00  from holding Zijin Mining Group or generate 17.09% return on investment over 90 days.

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

JSC Halyk bank  vs.  Zijin Mining Group

JSC Halyk bank

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in JSC Halyk bank are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile essential indicators, JSC Halyk may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Zijin Mining Group

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Zijin Mining Group are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Zijin Mining reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with JSC Halyk and Zijin Mining

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

The idea behind JSC Halyk bank and Zijin Mining Group 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.