Correlation Between Mawer Canadien and Manulife Global
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By analyzing existing cross correlation between Mawer Canadien obligations and Manulife Global Equity, you can compare the effects of market volatilities on Mawer Canadien and Manulife 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 Canadien with a short position of Manulife Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Canadien and Manulife Global.
Diversification Opportunities for Mawer Canadien and Manulife Global
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mawer and Manulife is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Canadien obligations and Manulife Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manulife Global Equity 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 Manulife Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manulife Global Equity has no effect on the direction of Mawer Canadien i.e., Mawer Canadien and Manulife Global go up and down completely randomly.
Pair Corralation between Mawer Canadien and Manulife Global
Assuming the 90 days trading horizon Mawer Canadien is expected to generate 12.23 times less return on investment than Manulife Global. But when comparing it to its historical volatility, Mawer Canadien obligations is 1.35 times less risky than Manulife Global. It trades about 0.01 of its potential returns per unit of risk. Manulife Global Equity is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 4,120 in Manulife Global Equity on December 1, 2024 and sell it today you would earn a total of 1,179 from holding Manulife Global Equity or generate 28.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Mawer Canadien obligations vs. Manulife Global Equity
Performance |
| Timeline |
| Mawer Canadien oblig |
| Manulife Global Equity |
Mawer Canadien and Manulife Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawer Canadien and Manulife Global
The main advantage of trading using opposite Mawer Canadien and Manulife Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer Canadien position performs unexpectedly, Manulife 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 Manulife Global will offset losses from the drop in Manulife Global's long position.| Mawer Canadien vs. Mawer Balanced | Mawer Canadien vs. Mawer dactions internationales | Mawer Canadien vs. Mawer Equity A | Mawer Canadien vs. Mawer Canadien actions |
| Manulife Global vs. Tangerine Equity Growth | Manulife Global vs. Fidelity Global Equity | Manulife Global vs. RBC Canadian Equity | Manulife Global vs. CDSPI Canadian Equity |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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