Correlation Between GCM Grosvenor and Agnico Eagle
Can any of the company-specific risk be diversified away by investing in both GCM Grosvenor and Agnico Eagle 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 GCM Grosvenor and Agnico Eagle into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GCM Grosvenor and Agnico Eagle Mines, you can compare the effects of market volatilities on GCM Grosvenor and Agnico Eagle 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 GCM Grosvenor with a short position of Agnico Eagle. Check out your portfolio center. Please also check ongoing floating volatility patterns of GCM Grosvenor and Agnico Eagle.
Diversification Opportunities for GCM Grosvenor and Agnico Eagle
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between GCM and Agnico is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding GCM Grosvenor and Agnico Eagle Mines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agnico Eagle Mines and GCM Grosvenor 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 GCM Grosvenor are associated (or correlated) with Agnico Eagle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agnico Eagle Mines has no effect on the direction of GCM Grosvenor i.e., GCM Grosvenor and Agnico Eagle go up and down completely randomly.
Pair Corralation between GCM Grosvenor and Agnico Eagle
Assuming the 90 days horizon GCM Grosvenor is expected to under-perform the Agnico Eagle. In addition to that, GCM Grosvenor is 13.33 times more volatile than Agnico Eagle Mines. It trades about -0.12 of its total potential returns per unit of risk. Agnico Eagle Mines is currently generating about 0.06 per unit of volatility. If you would invest 15,290 in Agnico Eagle Mines on September 12, 2025 and sell it today you would earn a total of 1,121 from holding Agnico Eagle Mines or generate 7.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
GCM Grosvenor vs. Agnico Eagle Mines
Performance |
| Timeline |
| GCM Grosvenor |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Agnico Eagle Mines |
GCM Grosvenor and Agnico Eagle Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GCM Grosvenor and Agnico Eagle
The main advantage of trading using opposite GCM Grosvenor and Agnico Eagle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GCM Grosvenor position performs unexpectedly, Agnico Eagle 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 Agnico Eagle will offset losses from the drop in Agnico Eagle's long position.| GCM Grosvenor vs. VisionWave Holdings, Common | GCM Grosvenor vs. Cartesian Growth | GCM Grosvenor vs. Starry Sea Acquisition | GCM Grosvenor vs. Fifth Era Acquisition |
| Agnico Eagle vs. Newmont Goldcorp Corp | Agnico Eagle vs. CRH PLC ADR | Agnico Eagle vs. Barrick Mining | Agnico Eagle vs. Sherwin Williams Co |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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