Correlation Between CSIF I and Zurich Invest
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By analyzing existing cross correlation between CSIF I Bond and Zurich Invest II, you can compare the effects of market volatilities on CSIF I and Zurich Invest 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 CSIF I with a short position of Zurich Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSIF I and Zurich Invest.
Diversification Opportunities for CSIF I and Zurich Invest
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between CSIF and Zurich is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding CSIF I Bond and Zurich Invest II in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zurich Invest II and CSIF I 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 CSIF I Bond are associated (or correlated) with Zurich Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zurich Invest II has no effect on the direction of CSIF I i.e., CSIF I and Zurich Invest go up and down completely randomly.
Pair Corralation between CSIF I and Zurich Invest
Assuming the 90 days trading horizon CSIF I Bond is expected to generate 0.94 times more return on investment than Zurich Invest. However, CSIF I Bond is 1.07 times less risky than Zurich Invest. It trades about 0.01 of its potential returns per unit of risk. Zurich Invest II is currently generating about -0.1 per unit of risk. If you would invest 67,379 in CSIF I Bond on October 30, 2024 and sell it today you would earn a total of 23.00 from holding CSIF I Bond or generate 0.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CSIF I Bond vs. Zurich Invest II
Performance |
| Timeline |
| CSIF I Bond |
| Zurich Invest II |
CSIF I and Zurich Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSIF I and Zurich Invest
The main advantage of trading using opposite CSIF I and Zurich Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSIF I position performs unexpectedly, Zurich Invest 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 Zurich Invest will offset losses from the drop in Zurich Invest's long position.| CSIF I vs. Procimmo Real Estate | CSIF I vs. SPDR Dow Jones | CSIF I vs. Baloise Holding AG | CSIF I vs. Autoneum Holding AG |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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