Correlation Between CI Black and CI Global
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By analyzing existing cross correlation between CI Black Creek and CI Global Alpha, you can compare the effects of market volatilities on CI Black and CI 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 CI Black with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Black and CI Global.
Diversification Opportunities for CI Black and CI Global
Very good diversification
The 3 months correlation between 0P0000752C and CIG18006 is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding CI Black Creek and CI Global Alpha in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Global Alpha and CI Black 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 Black Creek are associated (or correlated) with CI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Global Alpha has no effect on the direction of CI Black i.e., CI Black and CI Global go up and down completely randomly.
Pair Corralation between CI Black and CI Global
Assuming the 90 days trading horizon CI Black is expected to generate 1.04 times less return on investment than CI Global. But when comparing it to its historical volatility, CI Black Creek is 3.89 times less risky than CI Global. It trades about 0.3 of its potential returns per unit of risk. CI Global Alpha is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 10,915 in CI Global Alpha on November 2, 2024 and sell it today you would earn a total of 322.00 from holding CI Global Alpha or generate 2.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
CI Black Creek vs. CI Global Alpha
Performance |
| Timeline |
| CI Black Creek |
| CI Global Alpha |
CI Black and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Black and CI Global
The main advantage of trading using opposite CI Black and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Black position performs unexpectedly, CI 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 CI Global will offset losses from the drop in CI Global's long position.| CI Black vs. Edgepoint Global Portfolio | CI Black vs. RBC Global Equity | CI Black vs. Invesco Global Companies | CI Black vs. Manulife Global Equity |
| CI Global vs. RBC Select Balanced | CI Global vs. PIMCO Monthly Income | CI Global vs. RBC Portefeuille de | CI Global vs. Edgepoint Global Portfolio |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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