Correlation Between CSIF III and BCV Swiss
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By analyzing existing cross correlation between CSIF III Eq and BCV Swiss Franc, you can compare the effects of market volatilities on CSIF III and BCV 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 BCV Swiss. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSIF III and BCV Swiss.
Diversification Opportunities for CSIF III and BCV Swiss
Almost no diversification
The 3 months correlation between CSIF and BCV is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding CSIF III Eq and BCV Swiss Franc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BCV Swiss Franc 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 Eq are associated (or correlated) with BCV Swiss. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BCV Swiss Franc has no effect on the direction of CSIF III i.e., CSIF III and BCV Swiss go up and down completely randomly.
Pair Corralation between CSIF III and BCV Swiss
Assuming the 90 days trading horizon CSIF III Eq is expected to generate 2.94 times more return on investment than BCV Swiss. However, CSIF III is 2.94 times more volatile than BCV Swiss Franc. It trades about 0.32 of its potential returns per unit of risk. BCV Swiss Franc is currently generating about 0.33 per unit of risk. If you would invest 169,581 in CSIF III Eq on September 20, 2024 and sell it today you would earn a total of 4,064 from holding CSIF III Eq or generate 2.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
CSIF III Eq vs. BCV Swiss Franc
Performance |
| Timeline |
| CSIF III Eq |
| BCV Swiss Franc |
CSIF III and BCV Swiss Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSIF III and BCV Swiss
The main advantage of trading using opposite CSIF III and BCV Swiss positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSIF III position performs unexpectedly, BCV 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 BCV Swiss will offset losses from the drop in BCV Swiss' long position.| CSIF III vs. SPDR Dow Jones | CSIF III vs. Baloise Holding AG | CSIF III vs. Banque Cantonale du | CSIF III vs. 21Shares Polkadot ETP |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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