Correlation Between Telus Corp and Triple Flag
Can any of the company-specific risk be diversified away by investing in both Telus Corp and Triple Flag 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 Telus Corp and Triple Flag into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Telus Corp and Triple Flag Precious, you can compare the effects of market volatilities on Telus Corp and Triple Flag 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 Telus Corp with a short position of Triple Flag. Check out your portfolio center. Please also check ongoing floating volatility patterns of Telus Corp and Triple Flag.
Diversification Opportunities for Telus Corp and Triple Flag
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Telus and Triple is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Telus Corp and Triple Flag Precious in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Triple Flag Precious and Telus Corp 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 Telus Corp are associated (or correlated) with Triple Flag. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Triple Flag Precious has no effect on the direction of Telus Corp i.e., Telus Corp and Triple Flag go up and down completely randomly.
Pair Corralation between Telus Corp and Triple Flag
Given the investment horizon of 90 days Telus Corp is expected to under-perform the Triple Flag. But the stock apears to be less risky and, when comparing its historical volatility, Telus Corp is 2.75 times less risky than Triple Flag. The stock trades about -0.29 of its potential returns per unit of risk. The Triple Flag Precious is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 3,812 in Triple Flag Precious on August 31, 2025 and sell it today you would earn a total of 876.00 from holding Triple Flag Precious or generate 22.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Telus Corp vs. Triple Flag Precious
Performance |
| Timeline |
| Telus Corp |
| Triple Flag Precious |
Telus Corp and Triple Flag Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Telus Corp and Triple Flag
The main advantage of trading using opposite Telus Corp and Triple Flag positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Telus Corp position performs unexpectedly, Triple Flag 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 Triple Flag will offset losses from the drop in Triple Flag's long position.| Telus Corp vs. NeXGold Mining Corp | Telus Corp vs. BLUERUSH Media Group | Telus Corp vs. VIP Entertainment Technologies | Telus Corp vs. Glacier Media |
| Triple Flag vs. TGS Esports | Triple Flag vs. Richelieu Hardware | Triple Flag vs. Sparx Technology | Triple Flag vs. Computer Modelling Group |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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