Correlation Between CI Synergy and Edgepoint Cdn
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By analyzing existing cross correlation between CI Synergy American and Edgepoint Cdn Growth, you can compare the effects of market volatilities on CI Synergy and Edgepoint Cdn 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 Edgepoint Cdn. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Synergy and Edgepoint Cdn.
Diversification Opportunities for CI Synergy and Edgepoint Cdn
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 0P000075Q1 and Edgepoint is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding CI Synergy American and Edgepoint Cdn Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Edgepoint Cdn Growth 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 Edgepoint Cdn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Edgepoint Cdn Growth has no effect on the direction of CI Synergy i.e., CI Synergy and Edgepoint Cdn go up and down completely randomly.
Pair Corralation between CI Synergy and Edgepoint Cdn
Assuming the 90 days trading horizon CI Synergy American is expected to generate 1.72 times more return on investment than Edgepoint Cdn. However, CI Synergy is 1.72 times more volatile than Edgepoint Cdn Growth. It trades about 0.15 of its potential returns per unit of risk. Edgepoint Cdn Growth is currently generating about 0.08 per unit of risk. If you would invest 3,032 in CI Synergy American on October 14, 2024 and sell it today you would earn a total of 1,217 from holding CI Synergy American or generate 40.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 59.22% |
| Values | Daily Returns |
CI Synergy American vs. Edgepoint Cdn Growth
Performance |
| Timeline |
| CI Synergy American |
| Edgepoint Cdn Growth |
CI Synergy and Edgepoint Cdn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Synergy and Edgepoint Cdn
The main advantage of trading using opposite CI Synergy and Edgepoint Cdn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Synergy position performs unexpectedly, Edgepoint Cdn 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 Edgepoint Cdn will offset losses from the drop in Edgepoint Cdn's long position.| CI Synergy vs. RBC Select Balanced | CI Synergy vs. PIMCO Monthly Income | CI Synergy vs. RBC Portefeuille de | CI Synergy vs. Edgepoint Global Portfolio |
| Edgepoint Cdn vs. RBC Select Balanced | Edgepoint Cdn vs. PIMCO Monthly Income | Edgepoint Cdn vs. RBC Portefeuille de | Edgepoint Cdn 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 Stocks Directory module to find actively traded stocks across global markets.
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