Correlation Between Secure Energy and Ritchie Bros
Can any of the company-specific risk be diversified away by investing in both Secure Energy and Ritchie Bros 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 Secure Energy and Ritchie Bros into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Secure Energy Services and Ritchie Bros Auctioneers, you can compare the effects of market volatilities on Secure Energy and Ritchie Bros 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 Secure Energy with a short position of Ritchie Bros. Check out your portfolio center. Please also check ongoing floating volatility patterns of Secure Energy and Ritchie Bros.
Diversification Opportunities for Secure Energy and Ritchie Bros
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Secure and Ritchie is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Secure Energy Services and Ritchie Bros Auctioneers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ritchie Bros Auctioneers and Secure Energy 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 Secure Energy Services are associated (or correlated) with Ritchie Bros. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ritchie Bros Auctioneers has no effect on the direction of Secure Energy i.e., Secure Energy and Ritchie Bros go up and down completely randomly.
Pair Corralation between Secure Energy and Ritchie Bros
Assuming the 90 days trading horizon Secure Energy Services is expected to generate 0.82 times more return on investment than Ritchie Bros. However, Secure Energy Services is 1.22 times less risky than Ritchie Bros. It trades about 0.07 of its potential returns per unit of risk. Ritchie Bros Auctioneers is currently generating about 0.02 per unit of risk. If you would invest 1,771 in Secure Energy Services on November 16, 2025 and sell it today you would earn a total of 113.00 from holding Secure Energy Services or generate 6.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Secure Energy Services vs. Ritchie Bros Auctioneers
Performance |
| Timeline |
| Secure Energy Services |
| Ritchie Bros Auctioneers |
Secure Energy and Ritchie Bros Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Secure Energy and Ritchie Bros
The main advantage of trading using opposite Secure Energy and Ritchie Bros positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Secure Energy position performs unexpectedly, Ritchie Bros 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 Ritchie Bros will offset losses from the drop in Ritchie Bros' long position.| Secure Energy vs. Exchange Income | Secure Energy vs. MDA | Secure Energy vs. ATS P | Secure Energy vs. Badger Infrastructure Solutions |
| Ritchie Bros vs. WSP Global | Ritchie Bros vs. Bombardier | Ritchie Bros vs. Bombardier | Ritchie Bros vs. Stantec |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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