Correlation Between Mawer Global and Middlefield Global
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By analyzing existing cross correlation between Mawer Global Small and Middlefield Global Real, you can compare the effects of market volatilities on Mawer Global and Middlefield 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 Middlefield Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Global and Middlefield Global.
Diversification Opportunities for Mawer Global and Middlefield Global
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mawer and Middlefield is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Global Small and Middlefield Global Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Middlefield Global Real 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 Middlefield Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Middlefield Global Real has no effect on the direction of Mawer Global i.e., Mawer Global and Middlefield Global go up and down completely randomly.
Pair Corralation between Mawer Global and Middlefield Global
Assuming the 90 days trading horizon Mawer Global Small is expected to generate 1.18 times more return on investment than Middlefield Global. However, Mawer Global is 1.18 times more volatile than Middlefield Global Real. It trades about 0.09 of its potential returns per unit of risk. Middlefield Global Real is currently generating about 0.09 per unit of risk. If you would invest 1,531 in Mawer Global Small on September 2, 2024 and sell it today you would earn a total of 20.00 from holding Mawer Global Small or generate 1.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Mawer Global Small vs. Middlefield Global Real
Performance |
| Timeline |
| Mawer Global Small |
| Middlefield Global Real |
Mawer Global and Middlefield Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawer Global and Middlefield Global
The main advantage of trading using opposite Mawer Global and Middlefield Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer Global position performs unexpectedly, Middlefield 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 Middlefield Global will offset losses from the drop in Middlefield Global's long position.| Mawer Global vs. BMO Aggregate Bond | Mawer Global vs. iShares Canadian HYBrid | Mawer Global vs. Brompton European Dividend | Mawer Global vs. Solar Alliance Energy |
| Middlefield Global vs. Tech Leaders Income | Middlefield Global vs. Brompton Global Dividend | Middlefield Global vs. Forstrong Global Income | Middlefield Global vs. iShares Canadian HYBrid |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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