Correlation Between CI Signature and Bloom Select
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By analyzing existing cross correlation between CI Signature Cat and Bloom Select Income, you can compare the effects of market volatilities on CI Signature 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 CI Signature with a short position of Bloom Select. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Signature and Bloom Select.
Diversification Opportunities for CI Signature and Bloom Select
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between 0P0001AAKP and Bloom is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding CI Signature Cat 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 CI Signature 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 CI Signature Cat 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 CI Signature i.e., CI Signature and Bloom Select go up and down completely randomly.
Pair Corralation between CI Signature and Bloom Select
Assuming the 90 days trading horizon CI Signature is expected to generate 1.27 times less return on investment than Bloom Select. In addition to that, CI Signature is 1.66 times more volatile than Bloom Select Income. It trades about 0.1 of its total potential returns per unit of risk. Bloom Select Income is currently generating about 0.22 per unit of volatility. If you would invest 776.00 in Bloom Select Income on October 26, 2024 and sell it today you would earn a total of 28.00 from holding Bloom Select Income or generate 3.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 94.74% |
| Values | Daily Returns |
CI Signature Cat vs. Bloom Select Income
Performance |
| Timeline |
| CI Signature Cat |
| Bloom Select Income |
CI Signature and Bloom Select Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Signature and Bloom Select
The main advantage of trading using opposite CI Signature and Bloom Select positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Signature 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.| CI Signature vs. Fidelity Tactical High | CI Signature vs. Fidelity ClearPath 2045 | CI Signature vs. Bloom Select Income | CI Signature vs. Mackenzie Ivy European |
| 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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