Correlation Between Barrick Mining and Hutchison Telecommunicatio
Can any of the company-specific risk be diversified away by investing in both Barrick Mining and Hutchison Telecommunicatio 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 Hutchison Telecommunicatio into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barrick Mining and Hutchison Telecommunications Hong, you can compare the effects of market volatilities on Barrick Mining and Hutchison Telecommunicatio 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 Hutchison Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barrick Mining and Hutchison Telecommunicatio.
Diversification Opportunities for Barrick Mining and Hutchison Telecommunicatio
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Barrick and Hutchison is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Barrick Mining and Hutchison Telecommunications H in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hutchison Telecommunicatio 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 Hutchison Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hutchison Telecommunicatio has no effect on the direction of Barrick Mining i.e., Barrick Mining and Hutchison Telecommunicatio go up and down completely randomly.
Pair Corralation between Barrick Mining and Hutchison Telecommunicatio
Taking into account the 90-day investment horizon Barrick Mining is expected to generate 2.17 times more return on investment than Hutchison Telecommunicatio. However, Barrick Mining is 2.17 times more volatile than Hutchison Telecommunications Hong. It trades about 0.2 of its potential returns per unit of risk. Hutchison Telecommunications Hong is currently generating about -0.02 per unit of risk. If you would invest 2,891 in Barrick Mining on September 12, 2025 and sell it today you would earn a total of 1,285 from holding Barrick Mining or generate 44.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Barrick Mining vs. Hutchison Telecommunications H
Performance |
| Timeline |
| Barrick Mining |
| Hutchison Telecommunicatio |
Barrick Mining and Hutchison Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barrick Mining and Hutchison Telecommunicatio
The main advantage of trading using opposite Barrick Mining and Hutchison Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barrick Mining position performs unexpectedly, Hutchison Telecommunicatio 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 Hutchison Telecommunicatio will offset losses from the drop in Hutchison Telecommunicatio's long position.| Barrick Mining vs. The Mosaic | Barrick Mining vs. Harmony Gold Mining | Barrick Mining vs. Coeur Mining | Barrick Mining vs. Suzano Papel e |
| Hutchison Telecommunicatio vs. Quebecor | Hutchison Telecommunicatio vs. Quebecor | Hutchison Telecommunicatio vs. freenet AG | Hutchison Telecommunicatio vs. Telefnica Deutschland Holding |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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