Correlation Between CI Signature and Canadian High
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By analyzing existing cross correlation between CI Signature Cat and Canadian High Income, you can compare the effects of market volatilities on CI Signature and Canadian High 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 Canadian High. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Signature and Canadian High.
Diversification Opportunities for CI Signature and Canadian High
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 0P0001FKWD and Canadian is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CI Signature Cat and Canadian High Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Canadian High Income 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 Canadian High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Canadian High Income has no effect on the direction of CI Signature i.e., CI Signature and Canadian High go up and down completely randomly.
Pair Corralation between CI Signature and Canadian High
Assuming the 90 days trading horizon CI Signature Cat is expected to generate 1.28 times more return on investment than Canadian High. However, CI Signature is 1.28 times more volatile than Canadian High Income. It trades about 0.13 of its potential returns per unit of risk. Canadian High Income is currently generating about 0.02 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 | Flat |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
CI Signature Cat vs. Canadian High Income
Performance |
| Timeline |
| CI Signature Cat |
| Canadian High Income |
CI Signature and Canadian High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Signature and Canadian High
The main advantage of trading using opposite CI Signature and Canadian High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Signature position performs unexpectedly, Canadian High 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 Canadian High will offset losses from the drop in Canadian High's long position.| CI Signature vs. Healthcare Special Opportunities | CI Signature vs. CI Global Health | CI Signature vs. Sustainable Innovation Health |
| Canadian High vs. Blue Ribbon Income | Canadian High vs. MINT Income Fund | Canadian High vs. Energy Income | Canadian High vs. Brompton Lifeco Split |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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