Correlation Between CTPartners Executive and Harmony Gold

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

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

Diversification Opportunities for CTPartners Executive and Harmony Gold

0.0

Correlation Coefficient

CTPartners Executive  Harmony Gold

Pay attention - limited upside

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

Pair Corralation between CTPartners Executive and Harmony Gold

If you would invest  1,520  in Harmony Gold Mining on September 16, 2025 and sell it today you would earn a total of  510.00  from holding Harmony Gold Mining or generate 33.55% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.43%
Values	Daily Returns

CTPartners Executive Search  vs.  Harmony Gold Mining

CTPartners Executive

Risk-Adjusted Performance

Weakest

Over the last 90 days CTPartners Executive Search has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, CTPartners Executive is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.

Harmony Gold Mining

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Harmony Gold Mining are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak fundamental indicators, Harmony Gold reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with CTPartners Executive and Harmony Gold

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

The idea behind CTPartners Executive Search and Harmony Gold Mining 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.