Correlation Between DGL Investments and SSR Mining
Can any of the company-specific risk be diversified away by investing in both DGL Investments and SSR Mining 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 DGL Investments and SSR Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DGL Investments No1 and SSR Mining, you can compare the effects of market volatilities on DGL Investments and SSR Mining 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 DGL Investments with a short position of SSR Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of DGL Investments and SSR Mining.
Diversification Opportunities for DGL Investments and SSR Mining
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DGL and SSR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DGL Investments No1 and SSR Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSR Mining and DGL Investments 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 DGL Investments No1 are associated (or correlated) with SSR Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSR Mining has no effect on the direction of DGL Investments i.e., DGL Investments and SSR Mining go up and down completely randomly.
Pair Corralation between DGL Investments and SSR Mining
If you would invest 2,820 in SSR Mining on September 4, 2025 and sell it today you would earn a total of 214.00 from holding SSR Mining or generate 7.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DGL Investments No1 vs. SSR Mining
Performance |
| Timeline |
| DGL Investments No1 |
| SSR Mining |
DGL Investments and SSR Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DGL Investments and SSR Mining
The main advantage of trading using opposite DGL Investments and SSR Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DGL Investments position performs unexpectedly, SSR Mining 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 SSR Mining will offset losses from the drop in SSR Mining's long position.| DGL Investments vs. Intact Financial Corp | DGL Investments vs. Evome Medical Technologies | DGL Investments vs. Quipt Home Medical | DGL Investments vs. Wall Financial |
| SSR Mining vs. DGL Investments No1 | SSR Mining vs. Economic Investment Trust | SSR Mining vs. Russell Investments Global | SSR Mining vs. Labrador Iron Ore |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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