Correlation Between Tinka Resources and Integra Resources

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

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

Diversification Opportunities for Tinka Resources and Integra Resources

-0.4

Correlation Coefficient

Tinka Resources  Integra Resources

Very good diversification

The 3 months correlation between Tinka and Integra is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Tinka Resources Limited and Integra Resources Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra Resources Corp and Tinka Resources 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 Tinka Resources Limited are associated (or correlated) with Integra Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra Resources Corp has no effect on the direction of Tinka Resources i.e., Tinka Resources and Integra Resources go up and down completely randomly.

Pair Corralation between Tinka Resources and Integra Resources

Given the investment horizon of 90 days Tinka Resources Limited is expected to generate 2.37 times more return on investment than Integra Resources. However, Tinka Resources is 2.37 times more volatile than Integra Resources Corp. It trades about 0.08 of its potential returns per unit of risk. Integra Resources Corp is currently generating about -0.08 per unit of risk. If you would invest  4.00  in Tinka Resources Limited on April 22, 2025 and sell it today you would earn a total of  1.00  from holding Tinka Resources Limited or generate 25.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	98.41%
Values	Daily Returns

Tinka Resources Limited  vs.  Integra Resources Corp

Tinka Resources

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Tinka Resources Limited are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Tinka Resources showed solid returns over the last few months and may actually be approaching a breakup point.

Integra Resources Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Integra Resources Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in August 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with Tinka Resources and Integra Resources

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

The idea behind Tinka Resources Limited and Integra Resources 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.