Correlation Between Calibre Mining and Tamburi Investment

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

By analyzing existing cross correlation between Calibre Mining Corp and Tamburi Investment Partners, you can compare the effects of market volatilities on Calibre Mining and Tamburi Investment 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 Calibre Mining with a short position of Tamburi Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calibre Mining and Tamburi Investment.

Diversification Opportunities for Calibre Mining and Tamburi Investment

0.37

Correlation Coefficient

Calibre Mining  Tamburi Investment

Weak diversification

The 3 months correlation between Calibre and Tamburi is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Calibre Mining Corp and Tamburi Investment Partners in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tamburi Investment and Calibre Mining 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 Calibre Mining Corp are associated (or correlated) with Tamburi Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tamburi Investment has no effect on the direction of Calibre Mining i.e., Calibre Mining and Tamburi Investment go up and down completely randomly.

Pair Corralation between Calibre Mining and Tamburi Investment

Assuming the 90 days trading horizon Calibre Mining Corp is expected to under-perform the Tamburi Investment. In addition to that, Calibre Mining is 1.42 times more volatile than Tamburi Investment Partners. It trades about -0.02 of its total potential returns per unit of risk. Tamburi Investment Partners is currently generating about 0.01 per unit of volatility. If you would invest  764.00  in Tamburi Investment Partners on March 26, 2025 and sell it today you would earn a total of  3.00  from holding Tamburi Investment Partners or generate 0.39% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	98.36%
Values	Daily Returns

Calibre Mining Corp  vs.  Tamburi Investment Partners

Calibre Mining Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Calibre Mining Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound technical and fundamental indicators, Calibre Mining is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Tamburi Investment

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Tamburi Investment Partners are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable basic indicators, Tamburi Investment is not utilizing all of its potentials. The newest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Calibre Mining and Tamburi Investment

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

The idea behind Calibre Mining Corp and Tamburi Investment Partners 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.