Correlation Between CSIF III and IShares Global
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By analyzing existing cross correlation between CSIF III Eq and iShares Global Timber, you can compare the effects of market volatilities on CSIF III and IShares 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 CSIF III with a short position of IShares Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSIF III and IShares Global.
Diversification Opportunities for CSIF III and IShares Global
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CSIF and IShares is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding CSIF III Eq and iShares Global Timber in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares Global Timber 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 IShares Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Global Timber has no effect on the direction of CSIF III i.e., CSIF III and IShares Global go up and down completely randomly.
Pair Corralation between CSIF III and IShares Global
Assuming the 90 days trading horizon CSIF III Eq is expected to generate 0.59 times more return on investment than IShares Global. However, CSIF III Eq is 1.71 times less risky than IShares Global. It trades about 0.09 of its potential returns per unit of risk. iShares Global Timber is currently generating about 0.0 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 Against |
| Strength | Very Weak |
| Accuracy | 89.23% |
| Values | Daily Returns |
CSIF III Eq vs. iShares Global Timber
Performance |
| Timeline |
| CSIF III Eq |
| iShares Global Timber |
CSIF III and IShares Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSIF III and IShares Global
The main advantage of trading using opposite CSIF III and IShares Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSIF III position performs unexpectedly, IShares 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 IShares Global will offset losses from the drop in IShares Global'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 |
| IShares Global vs. UBSFund Solutions MSCI | IShares Global vs. Vanguard SP 500 | IShares Global vs. iShares Core SP | IShares Global vs. iShares Core MSCI |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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