Correlation Between Solaris Resources and Integra Resources

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

Diversification Opportunities for Solaris Resources and Integra Resources

-0.41

Correlation Coefficient

Solaris Resources  Integra Resources

Very good diversification

The 3 months correlation between Solaris and Integra is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Solaris Resources 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 Solaris 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 Solaris Resources 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 Solaris Resources i.e., Solaris Resources and Integra Resources go up and down completely randomly.

Pair Corralation between Solaris Resources and Integra Resources

Given the investment horizon of 90 days Solaris Resources is expected to generate 0.88 times more return on investment than Integra Resources. However, Solaris Resources is 1.14 times less risky than Integra Resources. It trades about 0.04 of its potential returns per unit of risk. Integra Resources Corp is currently generating about -0.03 per unit of risk. If you would invest  446.00  in Solaris Resources on May 2, 2025 and sell it today you would earn a total of  25.00  from holding Solaris Resources or generate 5.61% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	98.39%
Values	Daily Returns

Solaris Resources  vs.  Integra Resources Corp

Solaris Resources

Risk-Adjusted Performance

Insignificant

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

Integra Resources Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Integra Resources Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

Pair Trading with Solaris Resources and Integra Resources

The main advantage of trading using opposite Solaris Resources and Integra Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Solaris 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.

The idea behind Solaris Resources and Integra Resources 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.