Correlation Between Hunter Technology and K9 Gold

Can any of the company-specific risk be diversified away by investing in both Hunter Technology and K9 Gold 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 Hunter Technology and K9 Gold into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Hunter Technology Corp and K9 Gold Corp, you can compare the effects of market volatilities on Hunter Technology and K9 Gold 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 Hunter Technology with a short position of K9 Gold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hunter Technology and K9 Gold.

Diversification Opportunities for Hunter Technology and K9 Gold

0.0

Correlation Coefficient

Hunter Technology  K9 Gold

Pay attention - limited upside

The 3 months correlation between Hunter and WDFCF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hunter Technology Corp and K9 Gold Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on K9 Gold Corp and Hunter Technology 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 Hunter Technology Corp are associated (or correlated) with K9 Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of K9 Gold Corp has no effect on the direction of Hunter Technology i.e., Hunter Technology and K9 Gold go up and down completely randomly.

Pair Corralation between Hunter Technology and K9 Gold

If you would invest  9.37  in K9 Gold Corp on July 22, 2025 and sell it today you would earn a total of  12.63  from holding K9 Gold Corp or generate 134.79% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Hunter Technology Corp  vs.  K9 Gold Corp

Hunter Technology Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Hunter Technology Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable essential indicators, Hunter Technology is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

K9 Gold Corp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in K9 Gold Corp are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile fundamental indicators, K9 Gold reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Hunter Technology and K9 Gold

The main advantage of trading using opposite Hunter Technology and K9 Gold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hunter Technology position performs unexpectedly, K9 Gold 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 K9 Gold will offset losses from the drop in K9 Gold's long position.

The idea behind Hunter Technology Corp and K9 Gold Corp 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.