Correlation Between Coeur Mining and Amundi Physical
Can any of the company-specific risk be diversified away by investing in both Coeur Mining and Amundi Physical 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 Coeur Mining and Amundi Physical into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Coeur Mining and Amundi Physical Gold, you can compare the effects of market volatilities on Coeur Mining and Amundi Physical 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 Coeur Mining with a short position of Amundi Physical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coeur Mining and Amundi Physical.
Diversification Opportunities for Coeur Mining and Amundi Physical
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Coeur and Amundi is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Coeur Mining and Amundi Physical Gold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Physical Gold and Coeur 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 Coeur Mining are associated (or correlated) with Amundi Physical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Physical Gold has no effect on the direction of Coeur Mining i.e., Coeur Mining and Amundi Physical go up and down completely randomly.
Pair Corralation between Coeur Mining and Amundi Physical
Assuming the 90 days trading horizon Coeur Mining is expected to generate 3.44 times more return on investment than Amundi Physical. However, Coeur Mining is 3.44 times more volatile than Amundi Physical Gold. It trades about 0.16 of its potential returns per unit of risk. Amundi Physical Gold is currently generating about 0.18 per unit of risk. If you would invest 1,452 in Coeur Mining on September 8, 2025 and sell it today you would earn a total of 164.00 from holding Coeur Mining or generate 11.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Coeur Mining vs. Amundi Physical Gold
Performance |
| Timeline |
| Coeur Mining |
| Amundi Physical Gold |
Coeur Mining and Amundi Physical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coeur Mining and Amundi Physical
The main advantage of trading using opposite Coeur Mining and Amundi Physical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coeur Mining position performs unexpectedly, Amundi Physical 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 Amundi Physical will offset losses from the drop in Amundi Physical's long position.| Coeur Mining vs. Compal Electronics GDR | Coeur Mining vs. Critical Metals Plc | Coeur Mining vs. Symphony Environmental Technologies | Coeur Mining vs. Arrow Electronics |
| Amundi Physical vs. Swedbank AB ser | Amundi Physical vs. Ecclesiastical Insurance Office | Amundi Physical vs. Prudential Financial | Amundi Physical vs. Sparebank 1 SR |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |