Correlation Between ExGen Resources and Silver Grail
Can any of the company-specific risk be diversified away by investing in both ExGen Resources and Silver Grail 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 ExGen Resources and Silver Grail into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ExGen Resources and Silver Grail Resources, you can compare the effects of market volatilities on ExGen Resources and Silver Grail 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 ExGen Resources with a short position of Silver Grail. Check out your portfolio center. Please also check ongoing floating volatility patterns of ExGen Resources and Silver Grail.
Diversification Opportunities for ExGen Resources and Silver Grail
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between ExGen and Silver is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding ExGen Resources and Silver Grail Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Silver Grail Resources and ExGen Resources 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 ExGen Resources are associated (or correlated) with Silver Grail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Silver Grail Resources has no effect on the direction of ExGen Resources i.e., ExGen Resources and Silver Grail go up and down completely randomly.
Pair Corralation between ExGen Resources and Silver Grail
Assuming the 90 days horizon ExGen Resources is expected to generate 18.2 times less return on investment than Silver Grail. But when comparing it to its historical volatility, ExGen Resources is 20.36 times less risky than Silver Grail. It trades about 0.13 of its potential returns per unit of risk. Silver Grail Resources is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 10.00 in Silver Grail Resources on July 23, 2025 and sell it today you would earn a total of 6.00 from holding Silver Grail Resources or generate 60.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
ExGen Resources vs. Silver Grail Resources
Performance |
| Timeline |
| ExGen Resources |
| Silver Grail Resources |
ExGen Resources and Silver Grail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ExGen Resources and Silver Grail
The main advantage of trading using opposite ExGen Resources and Silver Grail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ExGen Resources position performs unexpectedly, Silver Grail 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 Silver Grail will offset losses from the drop in Silver Grail's long position.| ExGen Resources vs. Magellan Gold Corp | ExGen Resources vs. Riley Gold Corp | ExGen Resources vs. Masivo Silver Corp | ExGen Resources vs. Silver Grail Resources |
| Silver Grail vs. ExGen Resources | Silver Grail vs. Riley Gold Corp | Silver Grail vs. Masivo Silver Corp | Silver Grail vs. Magellan Gold 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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