Correlation Between CSIF III and Baloise Swiss
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By analyzing existing cross correlation between CSIF III Equity and Baloise Swiss Property, you can compare the effects of market volatilities on CSIF III and Baloise Swiss 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 CSIF III with a short position of Baloise Swiss. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSIF III and Baloise Swiss.
Diversification Opportunities for CSIF III and Baloise Swiss
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between CSIF and Baloise is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding CSIF III Equity and Baloise Swiss Property in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baloise Swiss Property and CSIF III 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 CSIF III Equity are associated (or correlated) with Baloise Swiss. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baloise Swiss Property has no effect on the direction of CSIF III i.e., CSIF III and Baloise Swiss go up and down completely randomly.
Pair Corralation between CSIF III and Baloise Swiss
Assuming the 90 days trading horizon CSIF III is expected to generate 59.09 times less return on investment than Baloise Swiss. But when comparing it to its historical volatility, CSIF III Equity is 1.58 times less risky than Baloise Swiss. It trades about 0.01 of its potential returns per unit of risk. Baloise Swiss Property is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 12,050 in Baloise Swiss Property on October 30, 2024 and sell it today you would earn a total of 830.00 from holding Baloise Swiss Property or generate 6.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.22% |
| Values | Daily Returns |
CSIF III Equity vs. Baloise Swiss Property
Performance |
| Timeline |
| CSIF III Equity |
| Baloise Swiss Property |
CSIF III and Baloise Swiss Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSIF III and Baloise Swiss
The main advantage of trading using opposite CSIF III and Baloise Swiss positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSIF III position performs unexpectedly, Baloise Swiss 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 Baloise Swiss will offset losses from the drop in Baloise Swiss' long position.| CSIF III vs. Procimmo Real Estate | CSIF III vs. SPDR Dow Jones | CSIF III vs. Baloise Holding AG | CSIF III vs. Autoneum Holding AG |
| Baloise Swiss vs. Procimmo Real Estate | Baloise Swiss vs. SPDR Dow Jones | Baloise Swiss vs. Baloise Holding AG | Baloise Swiss vs. Autoneum Holding AG |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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