Correlation Between CI Global and Picton Mahoney
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By analyzing existing cross correlation between CI Global Resource and Picton Mahoney Fortified, you can compare the effects of market volatilities on CI Global and Picton Mahoney 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 Picton Mahoney. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and Picton Mahoney.
Diversification Opportunities for CI Global and Picton Mahoney
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 0P000070I2 and Picton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Resource and Picton Mahoney Fortified in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Picton Mahoney Fortified 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 Resource are associated (or correlated) with Picton Mahoney. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Picton Mahoney Fortified has no effect on the direction of CI Global i.e., CI Global and Picton Mahoney go up and down completely randomly.
Pair Corralation between CI Global and Picton Mahoney
If you would invest 2,968 in CI Global Resource on September 4, 2024 and sell it today you would earn a total of 41.00 from holding CI Global Resource or generate 1.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CI Global Resource vs. Picton Mahoney Fortified
Performance |
| Timeline |
| CI Global Resource |
| Picton Mahoney Fortified |
CI Global and Picton Mahoney Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and Picton Mahoney
The main advantage of trading using opposite CI Global and Picton Mahoney positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, Picton Mahoney 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 Picton Mahoney will offset losses from the drop in Picton Mahoney's long position.| CI Global vs. iShares Canadian HYBrid | CI Global vs. Altagas Cum Red | CI Global vs. European Residential Real | CI Global vs. iShares Fundamental Hedged |
| Picton Mahoney vs. Fidelity Tactical High | Picton Mahoney vs. Fidelity ClearPath 2045 | Picton Mahoney vs. Bloom Select Income | Picton Mahoney vs. Global Healthcare Income |
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.
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