Correlation Between Edgepoint Canadian and Bloom Select
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By analyzing existing cross correlation between Edgepoint Canadian Portfolio and Bloom Select Income, you can compare the effects of market volatilities on Edgepoint Canadian and Bloom Select 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 Canadian with a short position of Bloom Select. Check out your portfolio center. Please also check ongoing floating volatility patterns of Edgepoint Canadian and Bloom Select.
Diversification Opportunities for Edgepoint Canadian and Bloom Select
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Edgepoint and Bloom is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Canadian Portfolio and Bloom Select Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bloom Select Income and Edgepoint Canadian 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 Canadian Portfolio are associated (or correlated) with Bloom Select. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bloom Select Income has no effect on the direction of Edgepoint Canadian i.e., Edgepoint Canadian and Bloom Select go up and down completely randomly.
Pair Corralation between Edgepoint Canadian and Bloom Select
Assuming the 90 days trading horizon Edgepoint Canadian Portfolio is expected to generate 0.22 times more return on investment than Bloom Select. However, Edgepoint Canadian Portfolio is 4.63 times less risky than Bloom Select. It trades about 0.32 of its potential returns per unit of risk. Bloom Select Income is currently generating about -0.03 per unit of risk. If you would invest 5,377 in Edgepoint Canadian Portfolio on September 12, 2024 and sell it today you would earn a total of 176.00 from holding Edgepoint Canadian Portfolio or generate 3.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Edgepoint Canadian Portfolio vs. Bloom Select Income
Performance |
| Timeline |
| Edgepoint Canadian |
| Bloom Select Income |
Edgepoint Canadian and Bloom Select Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Edgepoint Canadian and Bloom Select
The main advantage of trading using opposite Edgepoint Canadian and Bloom Select positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Edgepoint Canadian position performs unexpectedly, Bloom Select 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 Bloom Select will offset losses from the drop in Bloom Select's long position.| Edgepoint Canadian vs. RBC Select Balanced | Edgepoint Canadian vs. RBC Portefeuille de | Edgepoint Canadian vs. Edgepoint Global Portfolio | Edgepoint Canadian vs. TD Comfort Balanced |
| Bloom Select vs. Canadian High Income | Bloom Select vs. Blue Ribbon Income | Bloom Select vs. Energy Income | Bloom Select vs. Australian REIT Income |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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