Correlation Between Aston Bay and Seahawk Gold
Can any of the company-specific risk be diversified away by investing in both Aston Bay and Seahawk Gold 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 Aston Bay and Seahawk Gold into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aston Bay Holdings and Seahawk Gold Corp, you can compare the effects of market volatilities on Aston Bay and Seahawk Gold 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 Aston Bay with a short position of Seahawk Gold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aston Bay and Seahawk Gold.
Diversification Opportunities for Aston Bay and Seahawk Gold
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aston and Seahawk is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Aston Bay Holdings and Seahawk Gold Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seahawk Gold Corp and Aston Bay 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 Aston Bay Holdings are associated (or correlated) with Seahawk Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seahawk Gold Corp has no effect on the direction of Aston Bay i.e., Aston Bay and Seahawk Gold go up and down completely randomly.
Pair Corralation between Aston Bay and Seahawk Gold
Assuming the 90 days horizon Aston Bay Holdings is expected to under-perform the Seahawk Gold. But the otc stock apears to be less risky and, when comparing its historical volatility, Aston Bay Holdings is 16.84 times less risky than Seahawk Gold. The otc stock trades about -0.01 of its potential returns per unit of risk. The Seahawk Gold Corp is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 2.10 in Seahawk Gold Corp on August 25, 2025 and sell it today you would earn a total of 25.90 from holding Seahawk Gold Corp or generate 1233.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.48% |
| Values | Daily Returns |
Aston Bay Holdings vs. Seahawk Gold Corp
Performance |
| Timeline |
| Aston Bay Holdings |
| Seahawk Gold Corp |
Aston Bay and Seahawk Gold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aston Bay and Seahawk Gold
The main advantage of trading using opposite Aston Bay and Seahawk Gold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aston Bay position performs unexpectedly, Seahawk Gold 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 Seahawk Gold will offset losses from the drop in Seahawk Gold's long position.| Aston Bay vs. Camino Minerals | Aston Bay vs. Phoenix Copper Limited | Aston Bay vs. Argentina Lithium Energy | Aston Bay vs. Canadian Manganese |
| Seahawk Gold vs. Erin Ventures | Seahawk Gold vs. Argentina Lithium Energy | Seahawk Gold vs. Silver Elephant Mining | Seahawk Gold vs. Highway 50 Gold |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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