Correlation Between Intuitive Surgical and Aya Gold

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

By analyzing existing cross correlation between Intuitive Surgical and Aya Gold Silver, you can compare the effects of market volatilities on Intuitive Surgical and Aya 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 Intuitive Surgical with a short position of Aya Gold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuitive Surgical and Aya Gold.

Diversification Opportunities for Intuitive Surgical and Aya Gold

-0.43

Correlation Coefficient

Intuitive Surgical  Aya Gold

Very good diversification

The 3 months correlation between Intuitive and Aya is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Surgical and Aya Gold Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aya Gold Silver and Intuitive Surgical 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 Intuitive Surgical are associated (or correlated) with Aya Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aya Gold Silver has no effect on the direction of Intuitive Surgical i.e., Intuitive Surgical and Aya Gold go up and down completely randomly.

Pair Corralation between Intuitive Surgical and Aya Gold

Given the investment horizon of 90 days Intuitive Surgical is expected to generate 1.52 times less return on investment than Aya Gold. But when comparing it to its historical volatility, Intuitive Surgical is 2.11 times less risky than Aya Gold. It trades about 0.02 of its potential returns per unit of risk. Aya Gold Silver is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  1,220  in Aya Gold Silver on August 3, 2025 and sell it today you would lose (158.00) from holding Aya Gold Silver or give up 12.95% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	99.6%
Values	Daily Returns

Intuitive Surgical  vs.  Aya Gold Silver

Intuitive Surgical

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Intuitive Surgical are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly unfluctuating basic indicators, Intuitive Surgical may actually be approaching a critical reversion point that can send shares even higher in December 2025.

Aya Gold Silver

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Aya Gold Silver are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Aya Gold reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Intuitive Surgical and Aya Gold

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

The idea behind Intuitive Surgical and Aya Gold Silver 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.