Correlation Between CI Signature and Edgepoint Cdn
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By analyzing existing cross correlation between CI Signature Cat and Edgepoint Cdn Growth, you can compare the effects of market volatilities on CI Signature and Edgepoint Cdn 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 CI Signature with a short position of Edgepoint Cdn. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Signature and Edgepoint Cdn.
Diversification Opportunities for CI Signature and Edgepoint Cdn
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 0P0001FKWD and Edgepoint is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding CI Signature Cat and Edgepoint Cdn Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Edgepoint Cdn Growth and CI Signature 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 CI Signature Cat are associated (or correlated) with Edgepoint Cdn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Edgepoint Cdn Growth has no effect on the direction of CI Signature i.e., CI Signature and Edgepoint Cdn go up and down completely randomly.
Pair Corralation between CI Signature and Edgepoint Cdn
Assuming the 90 days trading horizon CI Signature Cat is expected to generate 2.91 times more return on investment than Edgepoint Cdn. However, CI Signature is 2.91 times more volatile than Edgepoint Cdn Growth. It trades about 0.13 of its potential returns per unit of risk. Edgepoint Cdn Growth is currently generating about 0.08 per unit of risk. If you would invest 1,662 in CI Signature Cat on October 14, 2024 and sell it today you would earn a total of 2,210 from holding CI Signature Cat or generate 132.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.59% |
| Values | Daily Returns |
CI Signature Cat vs. Edgepoint Cdn Growth
Performance |
| Timeline |
| CI Signature Cat |
| Edgepoint Cdn Growth |
CI Signature and Edgepoint Cdn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Signature and Edgepoint Cdn
The main advantage of trading using opposite CI Signature and Edgepoint Cdn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Signature position performs unexpectedly, Edgepoint Cdn 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 Edgepoint Cdn will offset losses from the drop in Edgepoint Cdn's long position.| CI Signature vs. Healthcare Special Opportunities | CI Signature vs. CI Global Health | CI Signature vs. Sustainable Innovation Health |
| Edgepoint Cdn vs. RBC Select Balanced | Edgepoint Cdn vs. PIMCO Monthly Income | Edgepoint Cdn vs. RBC Portefeuille de | Edgepoint Cdn vs. Edgepoint Global Portfolio |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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