Correlation Between Ioneer and CITIC Resources
Can any of the company-specific risk be diversified away by investing in both Ioneer and CITIC Resources 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 Ioneer and CITIC Resources into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ioneer and CITIC Resources Holdings, you can compare the effects of market volatilities on Ioneer and CITIC Resources 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 Ioneer with a short position of CITIC Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ioneer and CITIC Resources.
Diversification Opportunities for Ioneer and CITIC Resources
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ioneer and CITIC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ioneer and CITIC Resources Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIC Resources Holdings and Ioneer 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 ioneer are associated (or correlated) with CITIC Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIC Resources Holdings has no effect on the direction of Ioneer i.e., Ioneer and CITIC Resources go up and down completely randomly.
Pair Corralation between Ioneer and CITIC Resources
If you would invest 14.00 in ioneer on August 6, 2025 and sell it today you would lose (2.00) from holding ioneer or give up 14.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
ioneer vs. CITIC Resources Holdings
Performance |
| Timeline |
| ioneer |
| CITIC Resources Holdings |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Ioneer and CITIC Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ioneer and CITIC Resources
The main advantage of trading using opposite Ioneer and CITIC Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ioneer position performs unexpectedly, CITIC Resources 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 CITIC Resources will offset losses from the drop in CITIC Resources' long position.| Ioneer vs. Fireweed Zinc | Ioneer vs. Troilus Gold Corp | Ioneer vs. Prime Mining Corp | Ioneer vs. Syrah Resources Limited |
| CITIC Resources vs. Philex Mining | CITIC Resources vs. Macmahon Holdings Limited | CITIC Resources vs. Metals X Limited | CITIC Resources vs. The Monarch Cement |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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