Correlation Between SPTSX Dividend and Integra Resources
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Integra Resources Corp, you can compare the effects of market volatilities on SPTSX Dividend and Integra 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 SPTSX Dividend with a short position of Integra Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Integra Resources.
Diversification Opportunities for SPTSX Dividend and Integra Resources
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SPTSX and Integra is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Integra Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra Resources Corp and SPTSX Dividend 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 SPTSX Dividend Aristocrats are associated (or correlated) with Integra Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra Resources Corp has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Integra Resources go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Integra Resources
Assuming the 90 days trading horizon SPTSX Dividend Aristocrats is expected to generate 0.19 times more return on investment than Integra Resources. However, SPTSX Dividend Aristocrats is 5.34 times less risky than Integra Resources. It trades about 0.07 of its potential returns per unit of risk. Integra Resources Corp is currently generating about -0.01 per unit of risk. If you would invest 30,272 in SPTSX Dividend Aristocrats on August 29, 2024 and sell it today you would earn a total of 7,097 from holding SPTSX Dividend Aristocrats or generate 23.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Integra Resources Corp
Performance |
| Timeline |
SPTSX Dividend and Integra Resources Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Integra Resources Corp
Pair trading matchups for Integra Resources
Pair Trading with SPTSX Dividend and Integra Resources
The main advantage of trading using opposite SPTSX Dividend and Integra Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Integra 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 Integra Resources will offset losses from the drop in Integra Resources' long position.| SPTSX Dividend vs. Thunderbird Entertainment Group | SPTSX Dividend vs. Firan Technology Group | SPTSX Dividend vs. Computer Modelling Group | SPTSX Dividend vs. Northstar Clean Technologies |
| Integra Resources vs. Liberty Gold Corp | Integra Resources vs. Rio2 | Integra Resources vs. Revival Gold | Integra Resources vs. O3 Mining |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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