Correlation Between Ximen Mining and Copperbank Resources

Can any of the company-specific risk be diversified away by investing in both Ximen Mining and Copperbank 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 Ximen Mining and Copperbank Resources into the same portfolio, which is an essential part of the fundamental portfolio management process.

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

Diversification Opportunities for Ximen Mining and Copperbank Resources

-0.67

Correlation Coefficient

Ximen Mining  Copperbank Resources

Excellent diversification

The 3 months correlation between Ximen and Copperbank is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Ximen Mining Corp and Copperbank Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Copperbank Resources Corp and Ximen Mining 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 Ximen Mining Corp are associated (or correlated) with Copperbank Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Copperbank Resources Corp has no effect on the direction of Ximen Mining i.e., Ximen Mining and Copperbank Resources go up and down completely randomly.

Pair Corralation between Ximen Mining and Copperbank Resources

Assuming the 90 days horizon Ximen Mining Corp is expected to under-perform the Copperbank Resources. In addition to that, Ximen Mining is 1.91 times more volatile than Copperbank Resources Corp. It trades about -0.12 of its total potential returns per unit of risk. Copperbank Resources Corp is currently generating about 0.16 per unit of volatility. If you would invest  60.00  in Copperbank Resources Corp on May 7, 2025 and sell it today you would earn a total of  21.00  from holding Copperbank Resources Corp or generate 35.0% return on investment over 90 days.

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

Ximen Mining Corp  vs.  Copperbank Resources Corp

Ximen Mining Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Ximen Mining Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's primary indicators remain nearly stable which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Copperbank Resources Corp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Copperbank Resources Corp are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile forward-looking signals, Copperbank Resources reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Ximen Mining and Copperbank Resources

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

The idea behind Ximen Mining Corp and Copperbank 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.