Correlation Between Firan Technology and Perseus Mining
Can any of the company-specific risk be diversified away by investing in both Firan Technology and Perseus 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 Firan Technology and Perseus Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Firan Technology Group and Perseus Mining, you can compare the effects of market volatilities on Firan Technology and Perseus 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 Firan Technology with a short position of Perseus Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Firan Technology and Perseus Mining.
Diversification Opportunities for Firan Technology and Perseus Mining
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Firan and Perseus is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Firan Technology Group and Perseus Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Perseus Mining and Firan Technology 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 Firan Technology Group are associated (or correlated) with Perseus Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Perseus Mining has no effect on the direction of Firan Technology i.e., Firan Technology and Perseus Mining go up and down completely randomly.
Pair Corralation between Firan Technology and Perseus Mining
Assuming the 90 days trading horizon Firan Technology Group is expected to under-perform the Perseus Mining. But the stock apears to be less risky and, when comparing its historical volatility, Firan Technology Group is 1.13 times less risky than Perseus Mining. The stock trades about -0.08 of its potential returns per unit of risk. The Perseus Mining is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 394.00 in Perseus Mining on September 11, 2025 and sell it today you would earn a total of 92.00 from holding Perseus Mining or generate 23.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Firan Technology Group vs. Perseus Mining
Performance |
| Timeline |
| Firan Technology |
| Perseus Mining |
Firan Technology and Perseus Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Firan Technology and Perseus Mining
The main advantage of trading using opposite Firan Technology and Perseus Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Firan Technology position performs unexpectedly, Perseus 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 Perseus Mining will offset losses from the drop in Perseus Mining's long position.| Firan Technology vs. Tornado Global Hydrovacs | Firan Technology vs. Gatekeeper Systems | Firan Technology vs. Tantalus Systems Holding | Firan Technology vs. ADF Group |
| Perseus Mining vs. Dundee Precious Metals | Perseus Mining vs. Torex Gold Resources | Perseus Mining vs. OceanaGold | Perseus Mining vs. SSR Mining |
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 CEOs Directory module to screen CEOs from public companies around the world.
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