Correlation Between Getty Copper and Robex Resources

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

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

Diversification Opportunities for Getty Copper and Robex Resources

0.0

Correlation Coefficient

Getty Copper  Robex Resources

Pay attention - limited upside

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

Pair Corralation between Getty Copper and Robex Resources

If you would invest  326.00  in Robex Resources on August 31, 2025 and sell it today you would earn a total of  12.00  from holding Robex Resources or generate 3.68% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	95.45%
Values	Daily Returns

Getty Copper  vs.  Robex Resources

Getty Copper

Risk-Adjusted Performance

Weakest

Over the last 90 days Getty Copper has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Getty Copper is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Robex Resources

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Robex Resources are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile fundamental drivers, Robex Resources reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Getty Copper and Robex Resources

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

The idea behind Getty Copper and Robex Resources 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.

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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.