Correlation Between CI Global and CDSPI Global
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By analyzing existing cross correlation between CI Global Alpha and CDSPI Global Growth, you can compare the effects of market volatilities on CI Global and CDSPI Global 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 CDSPI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and CDSPI Global.
Diversification Opportunities for CI Global and CDSPI Global
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 0P000070HA and CDSPI is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Alpha and CDSPI Global Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CDSPI Global Growth 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 Alpha are associated (or correlated) with CDSPI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CDSPI Global Growth has no effect on the direction of CI Global i.e., CI Global and CDSPI Global go up and down completely randomly.
Pair Corralation between CI Global and CDSPI Global
Assuming the 90 days trading horizon CI Global Alpha is expected to generate 2.13 times more return on investment than CDSPI Global. However, CI Global is 2.13 times more volatile than CDSPI Global Growth. It trades about 0.15 of its potential returns per unit of risk. CDSPI Global Growth is currently generating about 0.01 per unit of risk. If you would invest 10,831 in CI Global Alpha on October 11, 2024 and sell it today you would earn a total of 513.00 from holding CI Global Alpha or generate 4.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.0% |
| Values | Daily Returns |
CI Global Alpha vs. CDSPI Global Growth
Performance |
| Timeline |
| CI Global Alpha |
| CDSPI Global Growth |
CI Global and CDSPI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and CDSPI Global
The main advantage of trading using opposite CI Global and CDSPI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, CDSPI Global 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 CDSPI Global will offset losses from the drop in CDSPI Global's long position.| CI Global vs. Dynamic Global Fixed | CI Global vs. Manulife Global Equity | CI Global vs. Tangerine Equity Growth | CI Global vs. Mawer Global Equity |
| CDSPI Global vs. Global Healthcare Income | CDSPI Global vs. CI Global Alpha | CDSPI Global vs. CI Global Alpha | CDSPI Global vs. Invesco Global Companies |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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