Correlation Between CI Global and RBC Mondial
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By analyzing existing cross correlation between CI Global Health and RBC mondial dnergie, you can compare the effects of market volatilities on CI Global and RBC Mondial 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 CI Global with a short position of RBC Mondial. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and RBC Mondial.
Diversification Opportunities for CI Global and RBC Mondial
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between 0P000070H9 and RBC is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Health and RBC mondial dnergie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC mondial dnergie and CI Global 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 CI Global Health are associated (or correlated) with RBC Mondial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC mondial dnergie has no effect on the direction of CI Global i.e., CI Global and RBC Mondial go up and down completely randomly.
Pair Corralation between CI Global and RBC Mondial
Assuming the 90 days trading horizon CI Global Health is expected to under-perform the RBC Mondial. But the fund apears to be less risky and, when comparing its historical volatility, CI Global Health is 1.11 times less risky than RBC Mondial. The fund trades about -0.11 of its potential returns per unit of risk. The RBC mondial dnergie is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 5,658 in RBC mondial dnergie on August 29, 2024 and sell it today you would earn a total of 250.00 from holding RBC mondial dnergie or generate 4.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI Global Health vs. RBC mondial dnergie
Performance |
| Timeline |
| CI Global Health |
| RBC mondial dnergie |
CI Global and RBC Mondial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and RBC Mondial
The main advantage of trading using opposite CI Global and RBC Mondial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, RBC Mondial 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 RBC Mondial will offset losses from the drop in RBC Mondial's long position.| CI Global vs. CI Signature Cat | CI Global vs. CI Global Alpha | CI Global vs. Fidelity Technology Innovators |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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