Correlation Between Integra Resources and StrikePoint Gold

Can any of the company-specific risk be diversified away by investing in both Integra Resources and StrikePoint 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 Integra Resources and StrikePoint Gold 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 StrikePoint Gold, you can compare the effects of market volatilities on Integra Resources and StrikePoint 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 Integra Resources with a short position of StrikePoint Gold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integra Resources and StrikePoint Gold.

Diversification Opportunities for Integra Resources and StrikePoint Gold

0.42

Correlation Coefficient

Integra Resources  StrikePoint Gold

Very weak diversification

The 3 months correlation between Integra and StrikePoint is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Integra Resources Corp and StrikePoint Gold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on StrikePoint Gold 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 StrikePoint Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StrikePoint Gold has no effect on the direction of Integra Resources i.e., Integra Resources and StrikePoint Gold go up and down completely randomly.

Pair Corralation between Integra Resources and StrikePoint Gold

Given the investment horizon of 90 days Integra Resources Corp is expected to generate 0.57 times more return on investment than StrikePoint Gold. However, Integra Resources Corp is 1.76 times less risky than StrikePoint Gold. It trades about 0.05 of its potential returns per unit of risk. StrikePoint Gold is currently generating about -0.13 per unit of risk. If you would invest  168.00  in Integra Resources Corp on May 19, 2025 and sell it today you would earn a total of  11.00  from holding Integra Resources Corp or generate 6.55% return on investment over 90 days.

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

Integra Resources Corp  vs.  StrikePoint Gold

Integra Resources Corp

Risk-Adjusted Performance

Soft

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

StrikePoint Gold

Risk-Adjusted Performance

Weakest

Over the last 90 days StrikePoint Gold has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Integra Resources and StrikePoint Gold

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

The idea behind Integra Resources Corp and StrikePoint Gold 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.