Correlation Between Stuhini Exploration and Casa Minerals
Can any of the company-specific risk be diversified away by investing in both Stuhini Exploration and Casa Minerals 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 Stuhini Exploration and Casa Minerals into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stuhini Exploration and Casa Minerals, you can compare the effects of market volatilities on Stuhini Exploration and Casa Minerals 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 Stuhini Exploration with a short position of Casa Minerals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stuhini Exploration and Casa Minerals.
Diversification Opportunities for Stuhini Exploration and Casa Minerals
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Stuhini and Casa is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Stuhini Exploration and Casa Minerals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Casa Minerals and Stuhini Exploration 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 Stuhini Exploration are associated (or correlated) with Casa Minerals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Casa Minerals has no effect on the direction of Stuhini Exploration i.e., Stuhini Exploration and Casa Minerals go up and down completely randomly.
Pair Corralation between Stuhini Exploration and Casa Minerals
Assuming the 90 days horizon Stuhini Exploration is expected to generate 2.52 times less return on investment than Casa Minerals. In addition to that, Stuhini Exploration is 1.54 times more volatile than Casa Minerals. It trades about 0.06 of its total potential returns per unit of risk. Casa Minerals is currently generating about 0.23 per unit of volatility. If you would invest 4.67 in Casa Minerals on October 5, 2025 and sell it today you would earn a total of 3.24 from holding Casa Minerals or generate 69.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Stuhini Exploration vs. Casa Minerals
Performance |
| Timeline |
| Stuhini Exploration |
| Casa Minerals |
Stuhini Exploration and Casa Minerals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stuhini Exploration and Casa Minerals
The main advantage of trading using opposite Stuhini Exploration and Casa Minerals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stuhini Exploration position performs unexpectedly, Casa Minerals 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 Casa Minerals will offset losses from the drop in Casa Minerals' long position.| Stuhini Exploration vs. Casa Minerals | Stuhini Exploration vs. New Destiny Mining | Stuhini Exploration vs. Cruz Cobalt Corp | Stuhini Exploration vs. Etruscus Resources Corp |
| Casa Minerals vs. Stuhini Exploration | Casa Minerals vs. New Destiny Mining | Casa Minerals vs. Cruz Cobalt Corp | Casa Minerals vs. Etruscus Resources 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |