Correlation Between Plantify Foods and Avino Silver

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

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

Diversification Opportunities for Plantify Foods and Avino Silver

0.0

Correlation Coefficient

Plantify Foods  Avino Silver

Pay attention - limited upside

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

Pair Corralation between Plantify Foods and Avino Silver

Assuming the 90 days trading horizon Plantify Foods is expected to generate 3.9 times more return on investment than Avino Silver. However, Plantify Foods is 3.9 times more volatile than Avino Silver Gold. It trades about 0.05 of its potential returns per unit of risk. Avino Silver Gold is currently generating about 0.1 per unit of risk. If you would invest  563.00  in Plantify Foods on April 20, 2025 and sell it today you would lose (523.00) from holding Plantify Foods or give up 92.9% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Plantify Foods  vs.  Avino Silver Gold

Plantify Foods

Risk-Adjusted Performance

Very Weak

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

Avino Silver Gold

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Avino Silver Gold are ranked lower than 19 (%) of all global equities and portfolios over the last 90 days. In spite of very abnormal primary indicators, Avino Silver displayed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Plantify Foods and Avino Silver

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

The idea behind Plantify Foods and Avino Silver Gold 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.