Correlation Between CSIF III and Procimmo Real
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By analyzing existing cross correlation between CSIF III Eq and Procimmo Real Estate, you can compare the effects of market volatilities on CSIF III and Procimmo Real 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 Procimmo Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSIF III and Procimmo Real.
Diversification Opportunities for CSIF III and Procimmo Real
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between CSIF and Procimmo is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding CSIF III Eq and Procimmo Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Procimmo Real Estate 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 Procimmo Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Procimmo Real Estate has no effect on the direction of CSIF III i.e., CSIF III and Procimmo Real go up and down completely randomly.
Pair Corralation between CSIF III and Procimmo Real
Assuming the 90 days trading horizon CSIF III Eq is expected to generate 0.72 times more return on investment than Procimmo Real. However, CSIF III Eq is 1.39 times less risky than Procimmo Real. It trades about 0.09 of its potential returns per unit of risk. Procimmo Real Estate is currently generating about 0.03 per unit of risk. If you would invest 126,451 in CSIF III Eq on October 13, 2024 and sell it today you would earn a total of 43,231 from holding CSIF III Eq or generate 34.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
CSIF III Eq vs. Procimmo Real Estate
Performance |
| Timeline |
| CSIF III Eq |
| Procimmo Real Estate |
CSIF III and Procimmo Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSIF III and Procimmo Real
The main advantage of trading using opposite CSIF III and Procimmo Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSIF III position performs unexpectedly, Procimmo Real 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 Procimmo Real will offset losses from the drop in Procimmo Real's 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 |
| Procimmo Real vs. SF Sustainable Property | Procimmo Real vs. Swissinvest Real Estate | Procimmo Real vs. CS Real Estate | Procimmo Real vs. UBS Property |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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