Correlation Between JSC Halyk and Wheaton Precious

Can any of the company-specific risk be diversified away by investing in both JSC Halyk and Wheaton Precious 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 Wheaton Precious 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 Wheaton Precious Metals, you can compare the effects of market volatilities on JSC Halyk and Wheaton Precious 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 Wheaton Precious. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and Wheaton Precious.

Diversification Opportunities for JSC Halyk and Wheaton Precious

0.11

Correlation Coefficient

JSC Halyk  Wheaton Precious

Average diversification

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

Pair Corralation between JSC Halyk and Wheaton Precious

Assuming the 90 days trading horizon JSC Halyk is expected to generate 2.3 times less return on investment than Wheaton Precious. In addition to that, JSC Halyk is 1.44 times more volatile than Wheaton Precious Metals. It trades about 0.04 of its total potential returns per unit of risk. Wheaton Precious Metals is currently generating about 0.15 per unit of volatility. If you would invest  6,967  in Wheaton Precious Metals on May 16, 2025 and sell it today you would earn a total of  1,377  from holding Wheaton Precious Metals or generate 19.76% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	98.46%
Values	Daily Returns

JSC Halyk bank  vs.  Wheaton Precious Metals

JSC Halyk bank

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in JSC Halyk bank are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain essential indicators, JSC Halyk may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Wheaton Precious Metals

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Wheaton Precious Metals are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, Wheaton Precious reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with JSC Halyk and Wheaton Precious

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

The idea behind JSC Halyk bank and Wheaton Precious Metals 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.