Correlation Between Getty Copper and Laurentian Bank
Can any of the company-specific risk be diversified away by investing in both Getty Copper and Laurentian Bank 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 Getty Copper and Laurentian Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Getty Copper and Laurentian Bank, you can compare the effects of market volatilities on Getty Copper and Laurentian Bank 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 Getty Copper with a short position of Laurentian Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Copper and Laurentian Bank.
Diversification Opportunities for Getty Copper and Laurentian Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Getty and Laurentian is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Getty Copper and Laurentian Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Laurentian Bank and Getty Copper 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 Getty Copper are associated (or correlated) with Laurentian Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Laurentian Bank has no effect on the direction of Getty Copper i.e., Getty Copper and Laurentian Bank go up and down completely randomly.
Pair Corralation between Getty Copper and Laurentian Bank
If you would invest 3,030 in Laurentian Bank on September 2, 2025 and sell it today you would earn a total of 379.00 from holding Laurentian Bank or generate 12.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Getty Copper vs. Laurentian Bank
Performance |
| Timeline |
| Getty Copper |
| Laurentian Bank |
Getty Copper and Laurentian Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Copper and Laurentian Bank
The main advantage of trading using opposite Getty Copper and Laurentian Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Copper position performs unexpectedly, Laurentian Bank 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 Laurentian Bank will offset losses from the drop in Laurentian Bank's long position.| Getty Copper vs. Hill Street Beverage | Getty Copper vs. BLUERUSH Media Group | Getty Copper vs. AKITA Drilling | Getty Copper vs. Cogeco Communications |
| Laurentian Bank vs. Berkshire Hathaway CDR | Laurentian Bank vs. E L Financial 3 | Laurentian Bank vs. Fairfax Financial Holdings | Laurentian Bank vs. Fairfax Financial Holdings |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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