Correlation Between TD Comfort and JFT Strategies
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By analyzing existing cross correlation between TD Comfort Balanced and JFT Strategies, you can compare the effects of market volatilities on TD Comfort and JFT Strategies 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 JFT Strategies. Check out your portfolio center. Please also check ongoing floating volatility patterns of TD Comfort and JFT Strategies.
Diversification Opportunities for TD Comfort and JFT Strategies
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 0P0001FAU8 and JFT is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding TD Comfort Balanced and JFT Strategies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JFT Strategies 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 JFT Strategies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JFT Strategies has no effect on the direction of TD Comfort i.e., TD Comfort and JFT Strategies go up and down completely randomly.
Pair Corralation between TD Comfort and JFT Strategies
Assuming the 90 days trading horizon TD Comfort Balanced is expected to generate 0.36 times more return on investment than JFT Strategies. However, TD Comfort Balanced is 2.8 times less risky than JFT Strategies. It trades about 0.09 of its potential returns per unit of risk. JFT Strategies is currently generating about -0.08 per unit of risk. If you would invest 1,288 in TD Comfort Balanced on August 28, 2024 and sell it today you would earn a total of 7.00 from holding TD Comfort Balanced or generate 0.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TD Comfort Balanced vs. JFT Strategies
Performance |
| Timeline |
| TD Comfort Balanced |
| JFT Strategies |
TD Comfort and JFT Strategies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TD Comfort and JFT Strategies
The main advantage of trading using opposite TD Comfort and JFT Strategies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TD Comfort position performs unexpectedly, JFT Strategies 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 JFT Strategies will offset losses from the drop in JFT Strategies' long position.| TD Comfort vs. Fidelity Tactical High | TD Comfort vs. Bloom Select Income | TD Comfort vs. Mawer Canadien obligations | TD Comfort vs. Symphony Floating Rate |
| JFT Strategies vs. Canso Credit Trust | JFT Strategies vs. Australian REIT Income | JFT Strategies vs. MINT Income Fund | JFT Strategies vs. Symphony Floating Rate |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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