Correlation Between Kalgoorlie Gold and AptarGroup

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

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

Diversification Opportunities for Kalgoorlie Gold and AptarGroup

-0.43

Correlation Coefficient

Kalgoorlie Gold  AptarGroup

Very good diversification

The 3 months correlation between Kalgoorlie and AptarGroup is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Kalgoorlie Gold Mining and AptarGroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AptarGroup and Kalgoorlie Gold 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 Kalgoorlie Gold Mining are associated (or correlated) with AptarGroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AptarGroup has no effect on the direction of Kalgoorlie Gold i.e., Kalgoorlie Gold and AptarGroup go up and down completely randomly.

Pair Corralation between Kalgoorlie Gold and AptarGroup

Assuming the 90 days horizon Kalgoorlie Gold Mining is expected to generate 20.93 times more return on investment than AptarGroup. However, Kalgoorlie Gold is 20.93 times more volatile than AptarGroup. It trades about 0.17 of its potential returns per unit of risk. AptarGroup is currently generating about -0.07 per unit of risk. If you would invest  0.50  in Kalgoorlie Gold Mining on October 6, 2025 and sell it today you would earn a total of  1.70  from holding Kalgoorlie Gold Mining or generate 340.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	96.92%
Values	Daily Returns

Kalgoorlie Gold Mining  vs.  AptarGroup

Kalgoorlie Gold Mining

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Kalgoorlie Gold Mining are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile primary indicators, Kalgoorlie Gold reported solid returns over the last few months and may actually be approaching a breakup point.

AptarGroup

Risk-Adjusted Performance

Weakest

Over the last 90 days AptarGroup has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest inconsistent performance, the Stock's basic indicators remain invariable and the latest agitation on Wall Street may also be a sign of long-running gains for the enterprise retail investors.

Pair Trading with Kalgoorlie Gold and AptarGroup

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

The idea behind Kalgoorlie Gold Mining and AptarGroup 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.