Correlation Between CTGX Mining and VIPR Corp

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

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

Diversification Opportunities for CTGX Mining and VIPR Corp

0.0

Correlation Coefficient

CTGX Mining  VIPR Corp

Pay attention - limited upside

The 3 months correlation between CTGX and VIPR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CTGX Mining and VIPR Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VIPR Corp and CTGX Mining 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 CTGX Mining are associated (or correlated) with VIPR Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VIPR Corp has no effect on the direction of CTGX Mining i.e., CTGX Mining and VIPR Corp go up and down completely randomly.

Pair Corralation between CTGX Mining and VIPR Corp

If you would invest  0.00  in VIPR Corp on August 4, 2025 and sell it today you would earn a total of  0.00  from holding VIPR Corp or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	97.73%
Values	Daily Returns

CTGX Mining  vs.  VIPR Corp

CTGX Mining

Risk-Adjusted Performance

Weakest

Over the last 90 days CTGX Mining has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong fundamental indicators, CTGX Mining is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

VIPR Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days VIPR Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, VIPR Corp is not utilizing all of its potentials. The current stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Pair Trading with CTGX Mining and VIPR Corp

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

The idea behind CTGX Mining and VIPR 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.