Correlation Between Edgepoint Cdn and CI Global
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By analyzing existing cross correlation between Edgepoint Cdn Growth and CI Global Alpha, you can compare the effects of market volatilities on Edgepoint Cdn 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 Cdn with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Edgepoint Cdn and CI Global.
Diversification Opportunities for Edgepoint Cdn and CI Global
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Edgepoint and CIG18006 is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Cdn Growth 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 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 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 Cdn i.e., Edgepoint Cdn and CI Global go up and down completely randomly.
Pair Corralation between Edgepoint Cdn and CI Global
Assuming the 90 days trading horizon Edgepoint Cdn Growth is expected to under-perform the CI Global. But the fund apears to be less risky and, when comparing its historical volatility, Edgepoint Cdn Growth is 3.39 times less risky than CI Global. The fund trades about -0.06 of its potential returns per unit of risk. The CI Global Alpha is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 10,346 in CI Global Alpha on October 11, 2024 and sell it today you would earn a total of 683.00 from holding CI Global Alpha or generate 6.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Edgepoint Cdn Growth vs. CI Global Alpha
Performance |
| Timeline |
| Edgepoint Cdn Growth |
| CI Global Alpha |
Edgepoint Cdn and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Edgepoint Cdn and CI Global
The main advantage of trading using opposite Edgepoint Cdn and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Edgepoint Cdn 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 Cdn vs. RBC Select Balanced | Edgepoint Cdn vs. PIMCO Monthly Income | Edgepoint Cdn vs. RBC Portefeuille de | Edgepoint Cdn vs. Edgepoint Global Portfolio |
| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth | CI Global vs. Invesco Global Companies |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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