Correlation Between Ascot Resources and Integra Resources

Can any of the company-specific risk be diversified away by investing in both Ascot Resources and Integra Resources 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 Ascot Resources and Integra Resources into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Ascot Resources and Integra Resources Corp, you can compare the effects of market volatilities on Ascot Resources and Integra Resources 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 Ascot Resources with a short position of Integra Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ascot Resources and Integra Resources.

Diversification Opportunities for Ascot Resources and Integra Resources

0.72

Correlation Coefficient

Ascot Resources  Integra Resources

Poor diversification

The 3 months correlation between Ascot and Integra is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Ascot Resources and Integra Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra Resources Corp and Ascot 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 Ascot Resources are associated (or correlated) with Integra Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra Resources Corp has no effect on the direction of Ascot Resources i.e., Ascot Resources and Integra Resources go up and down completely randomly.

Pair Corralation between Ascot Resources and Integra Resources

Assuming the 90 days trading horizon Ascot Resources is expected to under-perform the Integra Resources. In addition to that, Ascot Resources is 2.24 times more volatile than Integra Resources Corp. It trades about -0.05 of its total potential returns per unit of risk. Integra Resources Corp is currently generating about -0.09 per unit of volatility. If you would invest  257.00  in Integra Resources Corp on April 21, 2025 and sell it today you would lose (59.00) from holding Integra Resources Corp or give up 22.96% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Ascot Resources  vs.  Integra Resources Corp

Ascot Resources

Risk-Adjusted Performance

Very Weak

Over the last 90 days Ascot Resources has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in August 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Integra Resources Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Integra Resources Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in August 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with Ascot Resources and Integra Resources

The main advantage of trading using opposite Ascot Resources and Integra Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ascot Resources position performs unexpectedly, Integra Resources 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 Integra Resources will offset losses from the drop in Integra Resources' long position.

The idea behind Ascot Resources and Integra Resources Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.