Correlation Between Mawer Global and CI Global
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By analyzing existing cross correlation between Mawer Global Small and CI Global Alpha, 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
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Mawer and CIG18006 is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Global Small 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 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 Alpha 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 Small is expected to under-perform the CI Global. But the fund apears to be less risky and, when comparing its historical volatility, Mawer Global Small is 2.16 times less risky than CI Global. The fund trades about -0.2 of its potential returns per unit of risk. The CI Global Alpha is currently generating about -0.01 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 lose (55.00) from holding CI Global Alpha or give up 0.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mawer Global Small vs. CI Global Alpha
Performance |
| Timeline |
| Mawer Global Small |
| CI Global Alpha |
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. Global Healthcare Income | Mawer Global vs. CI Global Alpha | Mawer Global vs. CI Global Alpha | Mawer Global vs. CDSPI Global Growth |
| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth | CI Global vs. Invesco Global Companies |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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