Correlation Between Edgepoint Global and CI Synergy
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By analyzing existing cross correlation between Edgepoint Global Portfolio and CI Synergy American, you can compare the effects of market volatilities on Edgepoint Global and CI Synergy 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 Edgepoint Global with a short position of CI Synergy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Edgepoint Global and CI Synergy.
Diversification Opportunities for Edgepoint Global and CI Synergy
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Edgepoint and 0P000075Q1 is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Global Portfolio and CI Synergy American in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Synergy American and Edgepoint 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 Edgepoint Global Portfolio are associated (or correlated) with CI Synergy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Synergy American has no effect on the direction of Edgepoint Global i.e., Edgepoint Global and CI Synergy go up and down completely randomly.
Pair Corralation between Edgepoint Global and CI Synergy
Assuming the 90 days trading horizon Edgepoint Global is expected to generate 2.25 times less return on investment than CI Synergy. But when comparing it to its historical volatility, Edgepoint Global Portfolio is 1.25 times less risky than CI Synergy. It trades about 0.07 of its potential returns per unit of risk. CI Synergy American is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 3,032 in CI Synergy American on December 4, 2024 and sell it today you would earn a total of 1,085 from holding CI Synergy American or generate 35.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 65.45% |
| Values | Daily Returns |
Edgepoint Global Portfolio vs. CI Synergy American
Performance |
| Timeline |
| Edgepoint Global Por |
| CI Synergy American |
Edgepoint Global and CI Synergy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Edgepoint Global and CI Synergy
The main advantage of trading using opposite Edgepoint Global and CI Synergy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Edgepoint Global position performs unexpectedly, CI Synergy 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 Synergy will offset losses from the drop in CI Synergy's long position.| Edgepoint Global vs. Edgepoint Canadian Portfolio | Edgepoint Global vs. Edgepoint Canadian Portfolio | Edgepoint Global vs. Edgepoint Global Portfolio | Edgepoint Global vs. Fidelity Tactical High |
| CI Synergy vs. Edgepoint Cdn Growth | CI Synergy vs. Fidelity Small Cap | CI Synergy vs. Mawer Global Small | CI Synergy vs. TD Dividend Growth |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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