Correlation Between TD Comfort and Mawer Global
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By analyzing existing cross correlation between TD Comfort Balanced and Mawer Global Small, you can compare the effects of market volatilities on TD Comfort and Mawer 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 TD Comfort with a short position of Mawer Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of TD Comfort and Mawer Global.
Diversification Opportunities for TD Comfort and Mawer Global
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 0P0001FAU8 and Mawer is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding TD Comfort Balanced and Mawer Global Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mawer Global Small and TD Comfort 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 TD Comfort Balanced are associated (or correlated) with Mawer Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mawer Global Small has no effect on the direction of TD Comfort i.e., TD Comfort and Mawer Global go up and down completely randomly.
Pair Corralation between TD Comfort and Mawer Global
Assuming the 90 days trading horizon TD Comfort Balanced is expected to generate 0.53 times more return on investment than Mawer Global. However, TD Comfort Balanced is 1.89 times less risky than Mawer Global. It trades about 0.37 of its potential returns per unit of risk. Mawer Global Small is currently generating about 0.07 per unit of risk. If you would invest 1,281 in TD Comfort Balanced on September 1, 2024 and sell it today you would earn a total of 38.00 from holding TD Comfort Balanced or generate 2.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
TD Comfort Balanced vs. Mawer Global Small
Performance |
| Timeline |
| TD Comfort Balanced |
| Mawer Global Small |
TD Comfort and Mawer Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TD Comfort and Mawer Global
The main advantage of trading using opposite TD Comfort and Mawer Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TD Comfort position performs unexpectedly, Mawer 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 Mawer Global will offset losses from the drop in Mawer Global's long position.| TD Comfort vs. Healthcare Special Opportunities | TD Comfort vs. Sustainable Innovation Health | TD Comfort vs. Global Healthcare Income |
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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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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