Correlation Between SPTSX Dividend and Tamarack Valley
Specify exactly 2 symbols:
By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Tamarack Valley Energy, you can compare the effects of market volatilities on SPTSX Dividend and Tamarack Valley 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 SPTSX Dividend with a short position of Tamarack Valley. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Tamarack Valley.
Diversification Opportunities for SPTSX Dividend and Tamarack Valley
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between SPTSX and Tamarack is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Tamarack Valley Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tamarack Valley Energy and SPTSX Dividend 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 SPTSX Dividend Aristocrats are associated (or correlated) with Tamarack Valley. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tamarack Valley Energy has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Tamarack Valley go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Tamarack Valley
Assuming the 90 days trading horizon SPTSX Dividend is expected to generate 3.19 times less return on investment than Tamarack Valley. But when comparing it to its historical volatility, SPTSX Dividend Aristocrats is 4.73 times less risky than Tamarack Valley. It trades about 0.19 of its potential returns per unit of risk. Tamarack Valley Energy is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 534.00 in Tamarack Valley Energy on August 6, 2025 and sell it today you would earn a total of 77.00 from holding Tamarack Valley Energy or generate 14.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Tamarack Valley Energy
Performance |
| Timeline |
SPTSX Dividend and Tamarack Valley Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Tamarack Valley Energy
Pair trading matchups for Tamarack Valley
Pair Trading with SPTSX Dividend and Tamarack Valley
The main advantage of trading using opposite SPTSX Dividend and Tamarack Valley positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Tamarack Valley 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 Tamarack Valley will offset losses from the drop in Tamarack Valley's long position.| SPTSX Dividend vs. Kua Investments | SPTSX Dividend vs. DGL Investments No1 | SPTSX Dividend vs. Western Investment | SPTSX Dividend vs. Mogotes Metals |
| Tamarack Valley vs. NuVista Energy | Tamarack Valley vs. Athabasca Oil Corp | Tamarack Valley vs. Paramount Resources | Tamarack Valley vs. Baytex Energy Corp |
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.
Other Complementary Tools
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |