Correlation Between Rogers Communications and McEwen Mining
Can any of the company-specific risk be diversified away by investing in both Rogers Communications and McEwen 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 Rogers Communications and McEwen Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rogers Communications and McEwen Mining, you can compare the effects of market volatilities on Rogers Communications and McEwen 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 Rogers Communications with a short position of McEwen Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rogers Communications and McEwen Mining.
Diversification Opportunities for Rogers Communications and McEwen Mining
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Rogers and McEwen is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Rogers Communications and McEwen Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on McEwen Mining and Rogers Communications 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 Rogers Communications are associated (or correlated) with McEwen Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of McEwen Mining has no effect on the direction of Rogers Communications i.e., Rogers Communications and McEwen Mining go up and down completely randomly.
Pair Corralation between Rogers Communications and McEwen Mining
Assuming the 90 days trading horizon Rogers Communications is expected to generate 5.57 times less return on investment than McEwen Mining. But when comparing it to its historical volatility, Rogers Communications is 3.83 times less risky than McEwen Mining. It trades about 0.18 of its potential returns per unit of risk. McEwen Mining is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 1,547 in McEwen Mining on July 20, 2025 and sell it today you would earn a total of 1,438 from holding McEwen Mining or generate 92.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rogers Communications vs. McEwen Mining
Performance |
| Timeline |
| Rogers Communications |
| McEwen Mining |
Rogers Communications and McEwen Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rogers Communications and McEwen Mining
The main advantage of trading using opposite Rogers Communications and McEwen Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rogers Communications position performs unexpectedly, McEwen 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 McEwen Mining will offset losses from the drop in McEwen Mining's long position.| Rogers Communications vs. Telus Corp | Rogers Communications vs. Quebecor | Rogers Communications vs. Cogeco Communications | Rogers Communications vs. Cogeco Inc |
| McEwen Mining vs. Solaris Resources | McEwen Mining vs. Collective Mining | McEwen Mining vs. AbraSilver Resource Corp | McEwen Mining vs. Avino Silver 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 Stocks Directory module to find actively traded stocks across global markets.
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