Correlation Between Barrick Mining and Angel Oak
Can any of the company-specific risk be diversified away by investing in both Barrick Mining and Angel Oak 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 Barrick Mining and Angel Oak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barrick Mining and Angel Oak Mortgage, you can compare the effects of market volatilities on Barrick Mining and Angel Oak 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 Barrick Mining with a short position of Angel Oak. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barrick Mining and Angel Oak.
Diversification Opportunities for Barrick Mining and Angel Oak
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Barrick and Angel is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Barrick Mining and Angel Oak Mortgage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Angel Oak Mortgage and Barrick 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 Barrick Mining are associated (or correlated) with Angel Oak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Angel Oak Mortgage has no effect on the direction of Barrick Mining i.e., Barrick Mining and Angel Oak go up and down completely randomly.
Pair Corralation between Barrick Mining and Angel Oak
Taking into account the 90-day investment horizon Barrick Mining is expected to generate 2.35 times more return on investment than Angel Oak. However, Barrick Mining is 2.35 times more volatile than Angel Oak Mortgage. It trades about 0.2 of its potential returns per unit of risk. Angel Oak Mortgage is currently generating about -0.09 per unit of risk. If you would invest 2,829 in Barrick Mining on September 5, 2025 and sell it today you would earn a total of 1,221 from holding Barrick Mining or generate 43.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Barrick Mining vs. Angel Oak Mortgage
Performance |
| Timeline |
| Barrick Mining |
| Angel Oak Mortgage |
Barrick Mining and Angel Oak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barrick Mining and Angel Oak
The main advantage of trading using opposite Barrick Mining and Angel Oak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barrick Mining position performs unexpectedly, Angel Oak 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 Angel Oak will offset losses from the drop in Angel Oak's long position.| Barrick Mining vs. Magic Software Enterprises | Barrick Mining vs. Delta Air Lines | Barrick Mining vs. CyberArk Software | Barrick Mining vs. Ryanair Holdings PLC |
| Angel Oak vs. BW Offshore Limited | Angel Oak vs. Barrick Mining | Angel Oak vs. Black Rock Coffee | Angel Oak vs. Ark Restaurants Corp |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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