Correlation Between CI Synergy and RBC Select
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By analyzing existing cross correlation between CI Synergy American and RBC Select Balanced, you can compare the effects of market volatilities on CI Synergy and RBC Select 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 Synergy with a short position of RBC Select. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Synergy and RBC Select.
Diversification Opportunities for CI Synergy and RBC Select
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between 0P000075Q1 and RBC is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding CI Synergy American and RBC Select Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Select Balanced and CI Synergy 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 Synergy American are associated (or correlated) with RBC Select. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Select Balanced has no effect on the direction of CI Synergy i.e., CI Synergy and RBC Select go up and down completely randomly.
Pair Corralation between CI Synergy and RBC Select
Assuming the 90 days trading horizon CI Synergy American is expected to generate 1.86 times more return on investment than RBC Select. However, CI Synergy is 1.86 times more volatile than RBC Select Balanced. It trades about 0.12 of its potential returns per unit of risk. RBC Select Balanced is currently generating about 0.08 per unit of risk. If you would invest 3,032 in CI Synergy American on December 4, 2024 and sell it today you would earn a total of 1,085 from holding CI Synergy American or generate 35.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 65.59% |
| Values | Daily Returns |
CI Synergy American vs. RBC Select Balanced
Performance |
| Timeline |
| CI Synergy American |
| RBC Select Balanced |
CI Synergy and RBC Select Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Synergy and RBC Select
The main advantage of trading using opposite CI Synergy and RBC Select positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Synergy position performs unexpectedly, RBC Select 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 RBC Select will offset losses from the drop in RBC Select's long position.| CI Synergy vs. Edgepoint Cdn Growth | CI Synergy vs. Fidelity Small Cap | CI Synergy vs. Mawer Global Small | CI Synergy vs. TD Dividend Growth |
| RBC Select vs. RBC mondial dnergie | RBC Select vs. RBC dactions mondiales | RBC Select vs. RBC European Mid Cap | RBC Select vs. RBC Global Technology |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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