Correlation Between Triple Flag and Osisko Gold

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

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

Diversification Opportunities for Triple Flag and Osisko Gold

0.11

Correlation Coefficient

Triple Flag  Osisko Gold

Average diversification

The 3 months correlation between Triple and Osisko is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Triple Flag Precious and Osisko Gold Ro in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Osisko Gold Ro and Triple Flag 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 Triple Flag Precious are associated (or correlated) with Osisko Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Osisko Gold Ro has no effect on the direction of Triple Flag i.e., Triple Flag and Osisko Gold go up and down completely randomly.

Pair Corralation between Triple Flag and Osisko Gold

Assuming the 90 days trading horizon Triple Flag Precious is expected to generate 1.38 times more return on investment than Osisko Gold. However, Triple Flag is 1.38 times more volatile than Osisko Gold Ro. It trades about 0.15 of its potential returns per unit of risk. Osisko Gold Ro is currently generating about 0.15 per unit of risk. If you would invest  4,420  in Triple Flag Precious on September 13, 2025 and sell it today you would earn a total of  353.00  from holding Triple Flag Precious or generate 7.99% return on investment over 90 days.

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

Triple Flag Precious  vs.  Osisko Gold Ro

Triple Flag Precious

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Triple Flag Precious are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of very unfluctuating basic indicators, Triple Flag displayed solid returns over the last few months and may actually be approaching a breakup point.

Osisko Gold Ro

Risk-Adjusted Performance

Weakest

Over the last 90 days Osisko Gold Ro has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Osisko Gold is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Triple Flag and Osisko Gold

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

The idea behind Triple Flag Precious and Osisko Gold Ro 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.

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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.