Correlation Between US GoldMining and Pointerra

Can any of the company-specific risk be diversified away by investing in both US GoldMining and Pointerra 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 Pointerra 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 Pointerra Limited, you can compare the effects of market volatilities on US GoldMining and Pointerra 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 Pointerra. Check out your portfolio center. Please also check ongoing floating volatility patterns of US GoldMining and Pointerra.

Diversification Opportunities for US GoldMining and Pointerra

0.0

Correlation Coefficient

US GoldMining  Pointerra

Pay attention - limited upside

The 3 months correlation between USGO and Pointerra is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding US GoldMining Common and Pointerra Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pointerra Limited 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 Pointerra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pointerra Limited has no effect on the direction of US GoldMining i.e., US GoldMining and Pointerra go up and down completely randomly.

Pair Corralation between US GoldMining and Pointerra

If you would invest  944.00  in US GoldMining Common on September 16, 2025 and sell it today you would earn a total of  45.50  from holding US GoldMining Common or generate 4.82% return on investment over 90 days.

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

US GoldMining Common  vs.  Pointerra Limited

US GoldMining Common

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in US GoldMining Common are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of very unsteady technical and fundamental indicators, US GoldMining may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Pointerra Limited

Risk-Adjusted Performance

Weakest

Over the last 90 days Pointerra Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Pointerra is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with US GoldMining and Pointerra

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

The idea behind US GoldMining Common and Pointerra Limited 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.