Correlation Between IA Financial and Sailfish Royalty
Can any of the company-specific risk be diversified away by investing in both IA Financial and Sailfish Royalty 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 IA Financial and Sailfish Royalty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between iA Financial and Sailfish Royalty Corp, you can compare the effects of market volatilities on IA Financial and Sailfish Royalty 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 IA Financial with a short position of Sailfish Royalty. Check out your portfolio center. Please also check ongoing floating volatility patterns of IA Financial and Sailfish Royalty.
Diversification Opportunities for IA Financial and Sailfish Royalty
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between IAG and Sailfish is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding iA Financial and Sailfish Royalty Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sailfish Royalty Corp and IA Financial 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 iA Financial are associated (or correlated) with Sailfish Royalty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sailfish Royalty Corp has no effect on the direction of IA Financial i.e., IA Financial and Sailfish Royalty go up and down completely randomly.
Pair Corralation between IA Financial and Sailfish Royalty
Assuming the 90 days trading horizon IA Financial is expected to generate 2.14 times less return on investment than Sailfish Royalty. But when comparing it to its historical volatility, iA Financial is 1.78 times less risky than Sailfish Royalty. It trades about 0.12 of its potential returns per unit of risk. Sailfish Royalty Corp is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 232.00 in Sailfish Royalty Corp on July 20, 2025 and sell it today you would earn a total of 48.00 from holding Sailfish Royalty Corp or generate 20.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
iA Financial vs. Sailfish Royalty Corp
Performance |
| Timeline |
| iA Financial |
| Sailfish Royalty Corp |
IA Financial and Sailfish Royalty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IA Financial and Sailfish Royalty
The main advantage of trading using opposite IA Financial and Sailfish Royalty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IA Financial position performs unexpectedly, Sailfish Royalty 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 Sailfish Royalty will offset losses from the drop in Sailfish Royalty's long position.| IA Financial vs. Great West Lifeco | IA Financial vs. Intact Financial | IA Financial vs. IGM Financial | IA Financial vs. Sun Life Financial |
| Sailfish Royalty vs. Almadex Minerals | Sailfish Royalty vs. Elemental Royalties Corp | Sailfish Royalty vs. Empress Royalty Corp | Sailfish Royalty vs. Mako Mining 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |