Correlation Between Tudor Gold and Aftermath Silver

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

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

Diversification Opportunities for Tudor Gold and Aftermath Silver

0.64

Correlation Coefficient

Tudor Gold  Aftermath Silver

Poor diversification

The 3 months correlation between Tudor and Aftermath is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Tudor Gold Corp and Aftermath Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aftermath Silver and Tudor 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 Tudor Gold Corp are associated (or correlated) with Aftermath Silver. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aftermath Silver has no effect on the direction of Tudor Gold i.e., Tudor Gold and Aftermath Silver go up and down completely randomly.

Pair Corralation between Tudor Gold and Aftermath Silver

Assuming the 90 days horizon Tudor Gold Corp is expected to generate 1.2 times more return on investment than Aftermath Silver. However, Tudor Gold is 1.2 times more volatile than Aftermath Silver. It trades about 0.21 of its potential returns per unit of risk. Aftermath Silver is currently generating about 0.1 per unit of risk. If you would invest  38.00  in Tudor Gold Corp on July 3, 2025 and sell it today you would earn a total of  38.00  from holding Tudor Gold Corp or generate 100.0% return on investment over 90 days.

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

Tudor Gold Corp  vs.  Aftermath Silver

Tudor Gold Corp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Tudor Gold Corp are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Tudor Gold reported solid returns over the last few months and may actually be approaching a breakup point.

Aftermath Silver

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Aftermath Silver are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile technical and fundamental indicators, Aftermath Silver reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Tudor Gold and Aftermath Silver

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

The idea behind Tudor Gold Corp and Aftermath Silver 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.