Correlation Between Mawer Equity and Mawer Global
Specify exactly 2 symbols:
By analyzing existing cross correlation between Mawer Equity A and Mawer Global Small, you can compare the effects of market volatilities on Mawer Equity and Mawer 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 Mawer Equity with a short position of Mawer Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Equity and Mawer Global.
Diversification Opportunities for Mawer Equity and Mawer Global
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mawer and Mawer is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Equity A and Mawer Global Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mawer Global Small and Mawer Equity 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 Mawer Equity A are associated (or correlated) with Mawer Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mawer Global Small has no effect on the direction of Mawer Equity i.e., Mawer Equity and Mawer Global go up and down completely randomly.
Pair Corralation between Mawer Equity and Mawer Global
Assuming the 90 days trading horizon Mawer Equity A is expected to generate 0.85 times more return on investment than Mawer Global. However, Mawer Equity A is 1.17 times less risky than Mawer Global. It trades about 0.27 of its potential returns per unit of risk. Mawer Global Small is currently generating about -0.14 per unit of risk. If you would invest 9,650 in Mawer Equity A on August 29, 2024 and sell it today you would earn a total of 776.00 from holding Mawer Equity A or generate 8.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.67% |
| Values | Daily Returns |
Mawer Equity A vs. Mawer Global Small
Performance |
| Timeline |
| Mawer Equity A |
| Mawer Global Small |
Mawer Equity and Mawer Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawer Equity and Mawer Global
The main advantage of trading using opposite Mawer Equity and Mawer Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer Equity position performs unexpectedly, Mawer 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 Mawer Global will offset losses from the drop in Mawer Global's long position.| Mawer Equity vs. Mawer Canadien obligations | Mawer Equity vs. Mawer Balanced | Mawer Equity vs. Mawer dactions internationales | Mawer Equity vs. Mawer Global Small |
| Mawer Global vs. BMO Aggregate Bond | Mawer Global vs. iShares Canadian HYBrid | Mawer Global vs. Brompton European Dividend | Mawer Global vs. Solar Alliance Energy |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |