Correlation Between Bold Ventures and East Africa
Can any of the company-specific risk be diversified away by investing in both Bold Ventures and East Africa 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 Bold Ventures and East Africa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bold Ventures and East Africa Metals, you can compare the effects of market volatilities on Bold Ventures and East Africa 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 Bold Ventures with a short position of East Africa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bold Ventures and East Africa.
Diversification Opportunities for Bold Ventures and East Africa
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bold and East is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding Bold Ventures and East Africa Metals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on East Africa Metals and Bold Ventures 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 Bold Ventures are associated (or correlated) with East Africa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of East Africa Metals has no effect on the direction of Bold Ventures i.e., Bold Ventures and East Africa go up and down completely randomly.
Pair Corralation between Bold Ventures and East Africa
If you would invest 8.83 in East Africa Metals on October 6, 2025 and sell it today you would earn a total of 0.00 from holding East Africa Metals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 98.46% |
| Values | Daily Returns |
Bold Ventures vs. East Africa Metals
Performance |
| Timeline |
| Bold Ventures |
| East Africa Metals |
Bold Ventures and East Africa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bold Ventures and East Africa
The main advantage of trading using opposite Bold Ventures and East Africa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bold Ventures position performs unexpectedly, East Africa 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 East Africa will offset losses from the drop in East Africa's long position.| Bold Ventures vs. Castile Resources Limited | Bold Ventures vs. Coda Minerals Limited | Bold Ventures vs. Vital Metals Limited | Bold Ventures vs. East Africa Metals |
| East Africa vs. Coda Minerals Limited | East Africa vs. Vital Metals Limited | East Africa vs. Castile Resources Limited | East Africa vs. Bold Ventures |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |