Correlation Between Copper Lake and Bridgemarq Real
Can any of the company-specific risk be diversified away by investing in both Copper Lake and Bridgemarq Real 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 Copper Lake and Bridgemarq Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Copper Lake Resources and Bridgemarq Real Estate, you can compare the effects of market volatilities on Copper Lake and Bridgemarq Real 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 Copper Lake with a short position of Bridgemarq Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Copper Lake and Bridgemarq Real.
Diversification Opportunities for Copper Lake and Bridgemarq Real
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Copper and Bridgemarq is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Copper Lake Resources and Bridgemarq Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bridgemarq Real Estate and Copper Lake 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 Copper Lake Resources are associated (or correlated) with Bridgemarq Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bridgemarq Real Estate has no effect on the direction of Copper Lake i.e., Copper Lake and Bridgemarq Real go up and down completely randomly.
Pair Corralation between Copper Lake and Bridgemarq Real
Assuming the 90 days horizon Copper Lake Resources is expected to generate 19.47 times more return on investment than Bridgemarq Real. However, Copper Lake is 19.47 times more volatile than Bridgemarq Real Estate. It trades about 0.19 of its potential returns per unit of risk. Bridgemarq Real Estate is currently generating about -0.12 per unit of risk. If you would invest 1.00 in Copper Lake Resources on August 14, 2025 and sell it today you would earn a total of 2.50 from holding Copper Lake Resources or generate 250.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Copper Lake Resources vs. Bridgemarq Real Estate
Performance |
| Timeline |
| Copper Lake Resources |
| Bridgemarq Real Estate |
Copper Lake and Bridgemarq Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Copper Lake and Bridgemarq Real
The main advantage of trading using opposite Copper Lake and Bridgemarq Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Copper Lake position performs unexpectedly, Bridgemarq Real 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 Bridgemarq Real will offset losses from the drop in Bridgemarq Real's long position.| Copper Lake vs. Magna Mining | Copper Lake vs. NorthIsle Copper and | Copper Lake vs. Entree Resources | Copper Lake vs. Western Copper and |
| Bridgemarq Real vs. Invesque | Bridgemarq Real vs. Parkit Enterprise | Bridgemarq Real vs. True North Commercial | Bridgemarq Real vs. Canadian Net Real |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |