Correlation Between Mawer Canadien and Dow Jones
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By analyzing existing cross correlation between Mawer Canadien obligations and Dow Jones Industrial, you can compare the effects of market volatilities on Mawer Canadien and Dow Jones 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 Canadien with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Canadien and Dow Jones.
Diversification Opportunities for Mawer Canadien and Dow Jones
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mawer and Dow is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Canadien obligations and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Mawer Canadien 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 Canadien obligations are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Mawer Canadien i.e., Mawer Canadien and Dow Jones go up and down completely randomly.
Pair Corralation between Mawer Canadien and Dow Jones
Assuming the 90 days trading horizon Mawer Canadien obligations is expected to under-perform the Dow Jones. But the fund apears to be less risky and, when comparing its historical volatility, Mawer Canadien obligations is 1.66 times less risky than Dow Jones. The fund trades about 0.0 of its potential returns per unit of risk. The Dow Jones Industrial is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 3,394,710 in Dow Jones Industrial on August 26, 2024 and sell it today you would earn a total of 1,034,941 from holding Dow Jones Industrial or generate 30.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Mawer Canadien obligations vs. Dow Jones Industrial
Performance |
| Timeline |
Mawer Canadien and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Mawer Canadien obligations
Pair trading matchups for Mawer Canadien
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Mawer Canadien and Dow Jones
The main advantage of trading using opposite Mawer Canadien and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer Canadien position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Mawer Canadien vs. BMO Aggregate Bond | Mawer Canadien vs. iShares Canadian HYBrid | Mawer Canadien vs. Brompton European Dividend | Mawer Canadien vs. Solar Alliance Energy |
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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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