Correlation Between Edgepoint Global and CI Global
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By analyzing existing cross correlation between Edgepoint Global Portfolio and CI Global Alpha, you can compare the effects of market volatilities on Edgepoint 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 Edgepoint Global with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Edgepoint Global and CI Global.
Diversification Opportunities for Edgepoint Global and CI Global
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Edgepoint and 0P000070HA is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Global Portfolio 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 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 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 Edgepoint Global i.e., Edgepoint Global and CI Global go up and down completely randomly.
Pair Corralation between Edgepoint Global and CI Global
Assuming the 90 days trading horizon Edgepoint Global is expected to generate 2.64 times less return on investment than CI Global. But when comparing it to its historical volatility, Edgepoint Global Portfolio is 2.15 times less risky than CI Global. It trades about 0.22 of its potential returns per unit of risk. CI Global Alpha is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 8,375 in CI Global Alpha on September 4, 2024 and sell it today you would earn a total of 2,116 from holding CI Global Alpha or generate 25.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 96.88% |
| Values | Daily Returns |
Edgepoint Global Portfolio vs. CI Global Alpha
Performance |
| Timeline |
| Edgepoint Global Por |
| CI Global Alpha |
Edgepoint Global and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Edgepoint Global and CI Global
The main advantage of trading using opposite Edgepoint Global and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Edgepoint 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.| Edgepoint Global vs. RBC Select Balanced | Edgepoint Global vs. RBC Portefeuille de | Edgepoint Global vs. Edgepoint Global Portfolio | Edgepoint Global vs. TD Comfort Balanced |
| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. Manulife Global Equity | CI Global vs. Fidelity Global Equity |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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