Correlation Between GRIFFIN MINING and Marula Mining
Can any of the company-specific risk be diversified away by investing in both GRIFFIN MINING and Marula 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 GRIFFIN MINING and Marula Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GRIFFIN MINING LTD and Marula Mining PLC, you can compare the effects of market volatilities on GRIFFIN MINING and Marula 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 GRIFFIN MINING with a short position of Marula Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of GRIFFIN MINING and Marula Mining.
Diversification Opportunities for GRIFFIN MINING and Marula Mining
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GRIFFIN and Marula is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GRIFFIN MINING LTD and Marula Mining PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marula Mining PLC and GRIFFIN MINING 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 GRIFFIN MINING LTD are associated (or correlated) with Marula Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marula Mining PLC has no effect on the direction of GRIFFIN MINING i.e., GRIFFIN MINING and Marula Mining go up and down completely randomly.
Pair Corralation between GRIFFIN MINING and Marula Mining
If you would invest 210.00 in GRIFFIN MINING LTD on August 21, 2025 and sell it today you would earn a total of 0.00 from holding GRIFFIN MINING LTD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GRIFFIN MINING LTD vs. Marula Mining PLC
Performance |
| Timeline |
| GRIFFIN MINING LTD |
| Marula Mining PLC |
GRIFFIN MINING and Marula Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GRIFFIN MINING and Marula Mining
The main advantage of trading using opposite GRIFFIN MINING and Marula Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GRIFFIN MINING position performs unexpectedly, Marula 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 Marula Mining will offset losses from the drop in Marula Mining's long position.| GRIFFIN MINING vs. THRACE PLASTICS | GRIFFIN MINING vs. Molson Coors Beverage | GRIFFIN MINING vs. APPLIED MATERIALS | GRIFFIN MINING vs. Materialise NV |
| Marula Mining vs. TOMBADOR IRON LTD | Marula Mining vs. GRIFFIN MINING LTD | Marula Mining vs. Olympic Steel | Marula Mining vs. NEW MILLENNIUM IRON |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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