Correlation Between Tinka Resources and Sixt SE
Can any of the company-specific risk be diversified away by investing in both Tinka Resources and Sixt SE 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 Tinka Resources and Sixt SE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Tinka Resources and Sixt SE, you can compare the effects of market volatilities on Tinka Resources and Sixt SE 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 Tinka Resources with a short position of Sixt SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tinka Resources and Sixt SE.
Diversification Opportunities for Tinka Resources and Sixt SE
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Tinka and Sixt is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Tinka Resources and Sixt SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sixt SE and Tinka Resources 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 Tinka Resources are associated (or correlated) with Sixt SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sixt SE has no effect on the direction of Tinka Resources i.e., Tinka Resources and Sixt SE go up and down completely randomly.
Pair Corralation between Tinka Resources and Sixt SE
Assuming the 90 days trading horizon Tinka Resources is expected to generate 7.3 times more return on investment than Sixt SE. However, Tinka Resources is 7.3 times more volatile than Sixt SE. It trades about 0.09 of its potential returns per unit of risk. Sixt SE is currently generating about -0.15 per unit of risk. If you would invest 15.00 in Tinka Resources on July 20, 2025 and sell it today you would earn a total of 5.00 from holding Tinka Resources or generate 33.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.48% |
| Values | Daily Returns |
Tinka Resources vs. Sixt SE
Performance |
| Timeline |
| Tinka Resources |
| Sixt SE |
Tinka Resources and Sixt SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tinka Resources and Sixt SE
The main advantage of trading using opposite Tinka Resources and Sixt SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tinka Resources position performs unexpectedly, Sixt SE 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 Sixt SE will offset losses from the drop in Sixt SE's long position.| Tinka Resources vs. Indutrade AB | Tinka Resources vs. Retail Estates NV | Tinka Resources vs. TRADEDOUBLER AB SK | Tinka Resources vs. SUN ART RETAIL |
| Sixt SE vs. UPDATE SOFTWARE | Sixt SE vs. NEW MILLENNIUM IRON | Sixt SE vs. Sunny Optical Technology | Sixt SE vs. Micron Technology |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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