Correlation Between CDSPI Global and CI Global
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By analyzing existing cross correlation between CDSPI Global Growth and CI Global Alpha, you can compare the effects of market volatilities on CDSPI Global 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 CDSPI Global with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CDSPI Global and CI Global.
Diversification Opportunities for CDSPI Global and CI Global
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between CDSPI and 0P000070HA is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding CDSPI Global Growth 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 CDSPI Global 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 CDSPI Global Growth 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 CDSPI Global i.e., CDSPI Global and CI Global go up and down completely randomly.
Pair Corralation between CDSPI Global and CI Global
Assuming the 90 days trading horizon CDSPI Global Growth is expected to under-perform the CI Global. But the fund apears to be less risky and, when comparing its historical volatility, CDSPI Global Growth is 2.11 times less risky than CI Global. The fund trades about -0.04 of its potential returns per unit of risk. The CI Global Alpha is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 11,084 in CI Global Alpha on October 12, 2024 and sell it today you would earn a total of 260.00 from holding CI Global Alpha or generate 2.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 94.74% |
| Values | Daily Returns |
CDSPI Global Growth vs. CI Global Alpha
Performance |
| Timeline |
| CDSPI Global Growth |
| CI Global Alpha |
CDSPI Global and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CDSPI Global and CI Global
The main advantage of trading using opposite CDSPI Global and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CDSPI Global 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.| CDSPI Global vs. Global Healthcare Income | CDSPI Global vs. CI Global Alpha | CDSPI Global vs. CI Global Alpha | CDSPI Global vs. Invesco Global Companies |
| CI Global vs. Dynamic Global Fixed | CI Global vs. Manulife Global Equity | CI Global vs. Tangerine Equity Growth | CI Global vs. Mawer Global 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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