Correlation Between CI Global and CI Signature
Specify exactly 2 symbols:
By analyzing existing cross correlation between CI Global Alpha and CI Signature Cat, you can compare the effects of market volatilities on CI Global and CI Signature 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 CI Signature. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and CI Signature.
Diversification Opportunities for CI Global and CI Signature
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between 0P000070HA and 0P0001AAKP is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Alpha and CI Signature Cat in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Signature Cat 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 CI Signature. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Signature Cat has no effect on the direction of CI Global i.e., CI Global and CI Signature go up and down completely randomly.
Pair Corralation between CI Global and CI Signature
Assuming the 90 days trading horizon CI Global is expected to generate 1.01 times less return on investment than CI Signature. In addition to that, CI Global Alpha is as risky as CI Signature. It trades about 0.1 of its total potential returns per unit of risk. CI Signature Cat is currently generating about 0.1 per unit of volatility. If you would invest 3,910 in CI Signature Cat on October 26, 2024 and sell it today you would earn a total of 100.00 from holding CI Signature Cat or generate 2.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI Global Alpha vs. CI Signature Cat
Performance |
| Timeline |
| CI Global Alpha |
| CI Signature Cat |
CI Global and CI Signature Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and CI Signature
The main advantage of trading using opposite CI Global and CI Signature positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, CI Signature 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 CI Signature will offset losses from the drop in CI Signature's long position.| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth | CI Global vs. Invesco Global Companies |
| CI Signature vs. Fidelity Tactical High | CI Signature vs. Fidelity ClearPath 2045 | CI Signature vs. Bloom Select Income | CI Signature vs. Mackenzie Ivy European |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |