Correlation Between Jaguar Mining and Anglo Asian
Can any of the company-specific risk be diversified away by investing in both Jaguar Mining and Anglo Asian 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 Jaguar Mining and Anglo Asian into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jaguar Mining and Anglo Asian Mining, you can compare the effects of market volatilities on Jaguar Mining and Anglo Asian 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 Jaguar Mining with a short position of Anglo Asian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jaguar Mining and Anglo Asian.
Diversification Opportunities for Jaguar Mining and Anglo Asian
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jaguar and Anglo is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Jaguar Mining and Anglo Asian Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anglo Asian Mining and Jaguar 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 Jaguar Mining are associated (or correlated) with Anglo Asian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anglo Asian Mining has no effect on the direction of Jaguar Mining i.e., Jaguar Mining and Anglo Asian go up and down completely randomly.
Pair Corralation between Jaguar Mining and Anglo Asian
Assuming the 90 days horizon Jaguar Mining is expected to generate 0.78 times more return on investment than Anglo Asian. However, Jaguar Mining is 1.29 times less risky than Anglo Asian. It trades about 0.14 of its potential returns per unit of risk. Anglo Asian Mining is currently generating about 0.09 per unit of risk. If you would invest 370.00 in Jaguar Mining on September 3, 2025 and sell it today you would earn a total of 153.00 from holding Jaguar Mining or generate 41.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jaguar Mining vs. Anglo Asian Mining
Performance |
| Timeline |
| Jaguar Mining |
| Anglo Asian Mining |
Jaguar Mining and Anglo Asian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jaguar Mining and Anglo Asian
The main advantage of trading using opposite Jaguar Mining and Anglo Asian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jaguar Mining position performs unexpectedly, Anglo Asian 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 Anglo Asian will offset losses from the drop in Anglo Asian's long position.| Jaguar Mining vs. Panache Beverage | Jaguar Mining vs. High Performance Beverages | Jaguar Mining vs. Zhaojin Mining Industry | Jaguar Mining vs. Canoe Mining Ventures |
| Anglo Asian vs. Kingdee International Software | Anglo Asian vs. Air Lease | Anglo Asian vs. Net Lease Office | Anglo Asian vs. Mitsubishi UFJ Lease |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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