Correlation Between Valor Resources and Noble Mineral

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

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

Diversification Opportunities for Valor Resources and Noble Mineral

-0.87

Correlation Coefficient

Valor Resources  Noble Mineral

Pay attention - limited upside

The 3 months correlation between Valor and Noble is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding Valor Resources Limited and Noble Mineral Exploration in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Noble Mineral Exploration and Valor 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 Valor Resources Limited are associated (or correlated) with Noble Mineral. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Noble Mineral Exploration has no effect on the direction of Valor Resources i.e., Valor Resources and Noble Mineral go up and down completely randomly.

Pair Corralation between Valor Resources and Noble Mineral

Assuming the 90 days horizon Valor Resources Limited is expected to under-perform the Noble Mineral. In addition to that, Valor Resources is 1.08 times more volatile than Noble Mineral Exploration. It trades about -0.13 of its total potential returns per unit of risk. Noble Mineral Exploration is currently generating about 0.18 per unit of volatility. If you would invest  3.43  in Noble Mineral Exploration on October 8, 2025 and sell it today you would earn a total of  3.57  from holding Noble Mineral Exploration or generate 104.08% return on investment over 90 days.

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

Valor Resources Limited  vs.  Noble Mineral Exploration

Valor Resources

Risk-Adjusted Performance

Weakest

Over the last 90 days Valor Resources Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in February 2026. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Noble Mineral Exploration

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Noble Mineral Exploration are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Noble Mineral reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Valor Resources and Noble Mineral

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

The idea behind Valor Resources Limited and Noble Mineral Exploration 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 CEOs Directory module to screen CEOs from public companies around the world.