Correlation Between Zurich Invest and CSIF III
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By analyzing existing cross correlation between Zurich Invest II and CSIF III Eq, you can compare the effects of market volatilities on Zurich Invest and CSIF III 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 Zurich Invest with a short position of CSIF III. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zurich Invest and CSIF III.
Diversification Opportunities for Zurich Invest and CSIF III
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Zurich and CSIF is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Zurich Invest II and CSIF III Eq in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSIF III Eq and Zurich Invest 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 Zurich Invest II are associated (or correlated) with CSIF III. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSIF III Eq has no effect on the direction of Zurich Invest i.e., Zurich Invest and CSIF III go up and down completely randomly.
Pair Corralation between Zurich Invest and CSIF III
Assuming the 90 days trading horizon Zurich Invest II is expected to under-perform the CSIF III. But the fund apears to be less risky and, when comparing its historical volatility, Zurich Invest II is 7.06 times less risky than CSIF III. The fund trades about -0.63 of its potential returns per unit of risk. The CSIF III Eq is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 180,875 in CSIF III Eq on October 16, 2024 and sell it today you would lose (693.00) from holding CSIF III Eq or give up 0.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 92.86% |
| Values | Daily Returns |
Zurich Invest II vs. CSIF III Eq
Performance |
| Timeline |
| Zurich Invest II |
| CSIF III Eq |
Zurich Invest and CSIF III Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zurich Invest and CSIF III
The main advantage of trading using opposite Zurich Invest and CSIF III positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zurich Invest position performs unexpectedly, CSIF III 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 CSIF III will offset losses from the drop in CSIF III's long position.| Zurich Invest vs. Pictet Ch Precious | Zurich Invest vs. BCV Swiss Franc | Zurich Invest vs. CSIF I Bond | Zurich Invest vs. Julius Baer Edelweiss |
| CSIF III vs. CSIF III Equity | CSIF III vs. CSIF III Equity | CSIF III vs. CSIF III Eq | CSIF III vs. CSIF I Real |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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