Correlation Between Mawer Global and RBC Global
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By analyzing existing cross correlation between Mawer Global Small and RBC Global Equity, you can compare the effects of market volatilities on Mawer Global and RBC 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 RBC Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Global and RBC Global.
Diversification Opportunities for Mawer Global and RBC Global
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Mawer and RBC is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Global Small and RBC Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Global Equity 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 RBC Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Global Equity has no effect on the direction of Mawer Global i.e., Mawer Global and RBC Global go up and down completely randomly.
Pair Corralation between Mawer Global and RBC Global
Assuming the 90 days trading horizon Mawer Global Small is expected to generate 0.3 times more return on investment than RBC Global. However, Mawer Global Small is 3.32 times less risky than RBC Global. It trades about -0.23 of its potential returns per unit of risk. RBC Global Equity is currently generating about -0.23 per unit of risk. If you would invest 1,591 in Mawer Global Small on October 11, 2024 and sell it today you would lose (51.00) from holding Mawer Global Small or give up 3.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Mawer Global Small vs. RBC Global Equity
Performance |
| Timeline |
| Mawer Global Small |
| RBC Global Equity |
Mawer Global and RBC Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawer Global and RBC Global
The main advantage of trading using opposite Mawer Global and RBC Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer Global position performs unexpectedly, RBC 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 RBC Global will offset losses from the drop in RBC Global's long position.| Mawer Global vs. Global Healthcare Income | Mawer Global vs. CI Global Alpha | Mawer Global vs. CI Global Alpha | Mawer Global vs. CDSPI Global Growth |
| RBC Global vs. CI Global Health | RBC Global vs. Invesco Global Companies | RBC Global vs. CI Global Unconstrained | RBC Global vs. Mawer Global Small |
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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