Correlation Between Lundin Mining and SSR Mining
Can any of the company-specific risk be diversified away by investing in both Lundin Mining and SSR Mining 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 Lundin Mining and SSR Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lundin Mining and SSR Mining, you can compare the effects of market volatilities on Lundin Mining and SSR Mining 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 Lundin Mining with a short position of SSR Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lundin Mining and SSR Mining.
Diversification Opportunities for Lundin Mining and SSR Mining
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lundin and SSR is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Lundin Mining and SSR Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSR Mining and Lundin 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 Lundin Mining are associated (or correlated) with SSR Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSR Mining has no effect on the direction of Lundin Mining i.e., Lundin Mining and SSR Mining go up and down completely randomly.
Pair Corralation between Lundin Mining and SSR Mining
Assuming the 90 days trading horizon Lundin Mining is expected to generate 0.79 times more return on investment than SSR Mining. However, Lundin Mining is 1.26 times less risky than SSR Mining. It trades about 0.34 of its potential returns per unit of risk. SSR Mining is currently generating about 0.15 per unit of risk. If you would invest 1,498 in Lundin Mining on August 20, 2025 and sell it today you would earn a total of 1,046 from holding Lundin Mining or generate 69.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lundin Mining vs. SSR Mining
Performance |
| Timeline |
| Lundin Mining |
| SSR Mining |
Lundin Mining and SSR Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lundin Mining and SSR Mining
The main advantage of trading using opposite Lundin Mining and SSR Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lundin Mining position performs unexpectedly, SSR Mining 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 SSR Mining will offset losses from the drop in SSR Mining's long position.| Lundin Mining vs. Ivanhoe Mines | Lundin Mining vs. Alamos Gold | Lundin Mining vs. First Quantum Minerals | Lundin Mining vs. Lundin Gold |
| SSR Mining vs. OceanaGold | SSR Mining vs. Perseus Mining | SSR Mining vs. Eldorado Gold Corp | SSR Mining vs. New Gold |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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