Correlation Between Edgepoint Cdn and CI Signature
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By analyzing existing cross correlation between Edgepoint Cdn Growth and CI Signature Cat, you can compare the effects of market volatilities on Edgepoint Cdn and CI Signature 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 Cdn with a short position of CI Signature. Check out your portfolio center. Please also check ongoing floating volatility patterns of Edgepoint Cdn and CI Signature.
Diversification Opportunities for Edgepoint Cdn and CI Signature
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Edgepoint and 0P0001FKWD is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Cdn Growth and CI Signature Cat in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Signature Cat and Edgepoint Cdn 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 Cdn Growth are associated (or correlated) with CI Signature. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Signature Cat has no effect on the direction of Edgepoint Cdn i.e., Edgepoint Cdn and CI Signature go up and down completely randomly.
Pair Corralation between Edgepoint Cdn and CI Signature
Assuming the 90 days trading horizon Edgepoint Cdn is expected to generate 4.8 times less return on investment than CI Signature. But when comparing it to its historical volatility, Edgepoint Cdn Growth is 2.91 times less risky than CI Signature. It trades about 0.08 of its potential returns per unit of risk. CI Signature Cat is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 1,662 in CI Signature Cat on October 14, 2024 and sell it today you would earn a total of 2,210 from holding CI Signature Cat or generate 132.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.59% |
| Values | Daily Returns |
Edgepoint Cdn Growth vs. CI Signature Cat
Performance |
| Timeline |
| Edgepoint Cdn Growth |
| CI Signature Cat |
Edgepoint Cdn and CI Signature Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Edgepoint Cdn and CI Signature
The main advantage of trading using opposite Edgepoint Cdn and CI Signature positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Edgepoint Cdn position performs unexpectedly, CI Signature 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 Signature will offset losses from the drop in CI Signature's long position.| Edgepoint Cdn vs. RBC Select Balanced | Edgepoint Cdn vs. PIMCO Monthly Income | Edgepoint Cdn vs. RBC Portefeuille de | Edgepoint Cdn vs. Edgepoint Global Portfolio |
| CI Signature vs. Healthcare Special Opportunities | CI Signature vs. CI Global Health | CI Signature vs. Sustainable Innovation Health |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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