Correlation Between Integra Resources and Integra Resources
Can any of the company-specific risk be diversified away by investing in both Integra Resources and Integra Resources 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 Integra Resources and Integra Resources into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Integra Resources Corp and Integra Resources Corp, you can compare the effects of market volatilities on Integra Resources and Integra Resources 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 Integra Resources with a short position of Integra Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integra Resources and Integra Resources.
Diversification Opportunities for Integra Resources and Integra Resources
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Integra and Integra is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Integra Resources Corp and Integra Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra Resources Corp and Integra Resources 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 Integra Resources Corp are associated (or correlated) with Integra Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra Resources Corp has no effect on the direction of Integra Resources i.e., Integra Resources and Integra Resources go up and down completely randomly.
Pair Corralation between Integra Resources and Integra Resources
Assuming the 90 days horizon Integra Resources is expected to generate 1.01 times less return on investment than Integra Resources. But when comparing it to its historical volatility, Integra Resources Corp is 1.06 times less risky than Integra Resources. It trades about 0.11 of its potential returns per unit of risk. Integra Resources Corp is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 158.00 in Integra Resources Corp on May 20, 2025 and sell it today you would earn a total of 34.00 from holding Integra Resources Corp or generate 21.52% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 98.41% |
Values | Daily Returns |
Integra Resources Corp vs. Integra Resources Corp
Performance |
Timeline |
Integra Resources Corp |
Integra Resources Corp |
Integra Resources and Integra Resources Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Integra Resources and Integra Resources
The main advantage of trading using opposite Integra Resources and Integra Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integra Resources position performs unexpectedly, Integra Resources 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 Integra Resources will offset losses from the drop in Integra Resources' long position.Integra Resources vs. Integra Resources Corp | Integra Resources vs. P2 Gold | Integra Resources vs. GoGold Resources | Integra Resources vs. Bear Creek Mining |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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