Correlation Between Capital ICE and Capital Ice
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By analyzing existing cross correlation between Capital ICE International15 and Capital Ice 1 5, you can compare the effects of market volatilities on Capital ICE and Capital Ice 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 Capital ICE with a short position of Capital Ice. Check out your portfolio center. Please also check ongoing floating volatility patterns of Capital ICE and Capital Ice.
Diversification Opportunities for Capital ICE and Capital Ice
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Capital and Capital is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Capital ICE International15 and Capital Ice 1 5 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Capital Ice 1 and Capital ICE 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 Capital ICE International15 are associated (or correlated) with Capital Ice. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Capital Ice 1 has no effect on the direction of Capital ICE i.e., Capital ICE and Capital Ice go up and down completely randomly.
Pair Corralation between Capital ICE and Capital Ice
Assuming the 90 days trading horizon Capital ICE International15 is expected to generate 1.07 times more return on investment than Capital Ice. However, Capital ICE is 1.07 times more volatile than Capital Ice 1 5. It trades about 0.33 of its potential returns per unit of risk. Capital Ice 1 5 is currently generating about 0.24 per unit of risk. If you would invest 3,224 in Capital ICE International15 on September 5, 2024 and sell it today you would earn a total of 98.00 from holding Capital ICE International15 or generate 3.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Capital ICE International15 vs. Capital Ice 1 5
Performance |
| Timeline |
| Capital ICE Internat |
| Capital Ice 1 |
Capital ICE and Capital Ice Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Capital ICE and Capital Ice
The main advantage of trading using opposite Capital ICE and Capital Ice positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Capital ICE position performs unexpectedly, Capital Ice 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 Capital Ice will offset losses from the drop in Capital Ice's long position.| Capital ICE vs. Ruentex Development Co | Capital ICE vs. Symtek Automation Asia | Capital ICE vs. CTCI Corp | Capital ICE vs. Information Technology Total |
| Capital Ice vs. Capital ICE 15 | Capital Ice vs. Capital ICE International15 | Capital Ice vs. Capital BofA Merrill | Capital Ice vs. Capital Nasdaq Biotechnology |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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