Correlation Between Mawer Global and CI Global
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By analyzing existing cross correlation between Mawer Global Small and CI Global Resource, you can compare the effects of market volatilities on Mawer 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 Mawer Global with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Global and CI Global.
Diversification Opportunities for Mawer Global and CI Global
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Mawer and 0P000070I2 is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Global Small and CI Global Resource in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Global Resource and Mawer 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 Mawer Global Small 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 Resource has no effect on the direction of Mawer Global i.e., Mawer Global and CI Global go up and down completely randomly.
Pair Corralation between Mawer Global and CI Global
Assuming the 90 days trading horizon Mawer Global is expected to generate 7.14 times less return on investment than CI Global. In addition to that, Mawer Global is 1.08 times more volatile than CI Global Resource. It trades about 0.08 of its total potential returns per unit of risk. CI Global Resource is currently generating about 0.59 per unit of volatility. If you would invest 2,788 in CI Global Resource on October 24, 2024 and sell it today you would earn a total of 224.00 from holding CI Global Resource or generate 8.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mawer Global Small vs. CI Global Resource
Performance |
| Timeline |
| Mawer Global Small |
| CI Global Resource |
Mawer Global and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawer Global and CI Global
The main advantage of trading using opposite Mawer Global and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer 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.| Mawer Global vs. CDSPI Global Growth | Mawer Global vs. Invesco Global Companies | Mawer Global vs. Fidelity Global Equity | Mawer Global vs. Renaissance Global Science |
| CI Global vs. CDSPI Global Growth | CI Global vs. Invesco Global Companies | CI Global vs. Fidelity Global Equity | CI Global vs. Renaissance Global Science |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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