Correlation Between Manulife Global and Manulife All
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By analyzing existing cross correlation between Manulife Global Equity and Manulife All Cap, you can compare the effects of market volatilities on Manulife Global and Manulife All 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 Manulife Global with a short position of Manulife All. Check out your portfolio center. Please also check ongoing floating volatility patterns of Manulife Global and Manulife All.
Diversification Opportunities for Manulife Global and Manulife All
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Manulife and Manulife is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Global Equity and Manulife All Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manulife All Cap and Manulife 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 Manulife Global Equity are associated (or correlated) with Manulife All. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manulife All Cap has no effect on the direction of Manulife Global i.e., Manulife Global and Manulife All go up and down completely randomly.
Pair Corralation between Manulife Global and Manulife All
Assuming the 90 days trading horizon Manulife Global is expected to generate 3.52 times less return on investment than Manulife All. But when comparing it to its historical volatility, Manulife Global Equity is 1.6 times less risky than Manulife All. It trades about 0.03 of its potential returns per unit of risk. Manulife All Cap is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 4,599 in Manulife All Cap on December 2, 2024 and sell it today you would earn a total of 783.00 from holding Manulife All Cap or generate 17.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Manulife Global Equity vs. Manulife All Cap
Performance |
| Timeline |
| Manulife Global Equity |
| Manulife All Cap |
Manulife Global and Manulife All Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Manulife Global and Manulife All
The main advantage of trading using opposite Manulife Global and Manulife All positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Manulife Global position performs unexpectedly, Manulife All 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 Manulife All will offset losses from the drop in Manulife All's long position.| Manulife Global vs. Manulife All Cap | Manulife Global vs. Manulife Dividend Income | Manulife Global vs. Manulife Dividend Income | Manulife Global vs. Fidelity Tactical High |
| Manulife All vs. RBC Select Balanced | Manulife All vs. PIMCO Monthly Income | Manulife All vs. RBC Portefeuille de | Manulife All vs. Edgepoint Global Portfolio |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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