Correlation Between Silver Hammer and Silver Bear
Can any of the company-specific risk be diversified away by investing in both Silver Hammer and Silver Bear 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 Silver Hammer and Silver Bear into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Silver Hammer Mining and Silver Bear Resources, you can compare the effects of market volatilities on Silver Hammer and Silver Bear 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 Silver Hammer with a short position of Silver Bear. Check out your portfolio center. Please also check ongoing floating volatility patterns of Silver Hammer and Silver Bear.
Diversification Opportunities for Silver Hammer and Silver Bear
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Silver and Silver is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Silver Hammer Mining and Silver Bear Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Silver Bear Resources and Silver Hammer 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 Silver Hammer Mining are associated (or correlated) with Silver Bear. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Silver Bear Resources has no effect on the direction of Silver Hammer i.e., Silver Hammer and Silver Bear go up and down completely randomly.
Pair Corralation between Silver Hammer and Silver Bear
If you would invest 12.00 in Silver Hammer Mining on November 9, 2024 and sell it today you would lose (7.66) from holding Silver Hammer Mining or give up 63.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.86% |
| Values | Daily Returns |
Silver Hammer Mining vs. Silver Bear Resources
Performance |
| Timeline |
| Silver Hammer Mining |
| Silver Bear Resources |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Silver Hammer and Silver Bear Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Silver Hammer and Silver Bear
The main advantage of trading using opposite Silver Hammer and Silver Bear positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Silver Hammer position performs unexpectedly, Silver Bear 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 Silver Bear will offset losses from the drop in Silver Bear's long position.| Silver Hammer vs. Arizona Silver Exploration | Silver Hammer vs. Dolly Varden Silver | Silver Hammer vs. Reyna Silver Corp | Silver Hammer vs. Guanajuato Silver |
| Silver Bear vs. Merit Medical Systems | Silver Bear vs. Franklin Wireless Corp | Silver Bear vs. Senmiao Technology | Silver Bear vs. Boston Properties |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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