Correlation Between Cobas Mixto and CI Global
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By analyzing existing cross correlation between Cobas Mixto Global and CI Global Alpha, you can compare the effects of market volatilities on Cobas Mixto 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 Cobas Mixto with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cobas Mixto and CI Global.
Diversification Opportunities for Cobas Mixto and CI Global
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Cobas and 0P0000A357 is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Cobas Mixto Global 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 Cobas Mixto 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 Cobas Mixto Global 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 Cobas Mixto i.e., Cobas Mixto and CI Global go up and down completely randomly.
Pair Corralation between Cobas Mixto and CI Global
Assuming the 90 days trading horizon Cobas Mixto is expected to generate 2.4 times less return on investment than CI Global. But when comparing it to its historical volatility, Cobas Mixto Global is 2.64 times less risky than CI Global. It trades about 0.11 of its potential returns per unit of risk. CI Global Alpha is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 3,725 in CI Global Alpha on December 4, 2024 and sell it today you would earn a total of 3,561 from holding CI Global Alpha or generate 95.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.59% |
| Values | Daily Returns |
Cobas Mixto Global vs. CI Global Alpha
Performance |
| Timeline |
| Cobas Mixto Global |
| CI Global Alpha |
Cobas Mixto and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cobas Mixto and CI Global
The main advantage of trading using opposite Cobas Mixto and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cobas Mixto 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.| Cobas Mixto vs. Renta 4 Global | Cobas Mixto vs. Myinvestor Indexado Global | Cobas Mixto vs. CI Global Alpha | Cobas Mixto vs. BK Variable Internacional |
| CI Global vs. Metrovacesa SA | CI Global vs. Elecnor SA | CI Global vs. Mapfre | CI Global vs. Tander Inversiones SOCIMI |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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