Correlation Between US GoldMining and Intelligent Bio

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

By analyzing existing cross correlation between US GoldMining Common and Intelligent Bio Solutions, you can compare the effects of market volatilities on US GoldMining and Intelligent Bio 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 US GoldMining with a short position of Intelligent Bio. Check out your portfolio center. Please also check ongoing floating volatility patterns of US GoldMining and Intelligent Bio.

Diversification Opportunities for US GoldMining and Intelligent Bio

0.25

Correlation Coefficient

US GoldMining  Intelligent Bio

Modest diversification

The 3 months correlation between USGO and Intelligent is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding US GoldMining Common and Intelligent Bio Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelligent Bio Solutions and US GoldMining 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 US GoldMining Common are associated (or correlated) with Intelligent Bio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelligent Bio Solutions has no effect on the direction of US GoldMining i.e., US GoldMining and Intelligent Bio go up and down completely randomly.

Pair Corralation between US GoldMining and Intelligent Bio

Given the investment horizon of 90 days US GoldMining Common is expected to generate 0.53 times more return on investment than Intelligent Bio. However, US GoldMining Common is 1.9 times less risky than Intelligent Bio. It trades about -0.06 of its potential returns per unit of risk. Intelligent Bio Solutions is currently generating about -0.23 per unit of risk. If you would invest  840.00  in US GoldMining Common on May 25, 2025 and sell it today you would lose (30.00) from holding US GoldMining Common or give up 3.57% of portfolio value over 90 days.

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

US GoldMining Common  vs.  Intelligent Bio Solutions

US GoldMining Common

Risk-Adjusted Performance

Weakest

Over the last 90 days US GoldMining Common has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's technical and fundamental indicators remain very healthy which may send shares a bit higher in September 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Intelligent Bio Solutions

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Intelligent Bio Solutions are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively conflicting fundamental drivers, Intelligent Bio unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with US GoldMining and Intelligent Bio

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

The idea behind US GoldMining Common and Intelligent Bio Solutions 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 Commodity Directory module to find actively traded commodities issued by global exchanges.