Correlation Between CI Signature and Dynamic Global
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By analyzing existing cross correlation between CI Signature Cat and Dynamic Global Fixed, you can compare the effects of market volatilities on CI Signature and Dynamic 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 CI Signature with a short position of Dynamic Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Signature and Dynamic Global.
Diversification Opportunities for CI Signature and Dynamic Global
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 0P0001FKWD and Dynamic is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding CI Signature Cat and Dynamic Global Fixed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dynamic Global Fixed 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 Dynamic Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dynamic Global Fixed has no effect on the direction of CI Signature i.e., CI Signature and Dynamic Global go up and down completely randomly.
Pair Corralation between CI Signature and Dynamic Global
Assuming the 90 days trading horizon CI Signature Cat is expected to generate 5.65 times more return on investment than Dynamic Global. However, CI Signature is 5.65 times more volatile than Dynamic Global Fixed. It trades about 0.12 of its potential returns per unit of risk. Dynamic Global Fixed is currently generating about 0.09 per unit of risk. If you would invest 1,704 in CI Signature Cat on November 28, 2024 and sell it today you would earn a total of 2,013 from holding CI Signature Cat or generate 118.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 13.97% |
| Values | Daily Returns |
CI Signature Cat vs. Dynamic Global Fixed
Performance |
| Timeline |
| CI Signature Cat |
| Dynamic Global Fixed |
CI Signature and Dynamic Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Signature and Dynamic Global
The main advantage of trading using opposite CI Signature and Dynamic Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Signature position performs unexpectedly, Dynamic 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 Dynamic Global will offset losses from the drop in Dynamic Global's long position.| CI Signature vs. Fidelity Tactical High | CI Signature vs. Bloom Select Income | CI Signature vs. Global Healthcare Income | CI Signature vs. Dynamic Alternative Yield |
| Dynamic Global vs. Dfa World Equity | Dynamic Global vs. Fidelity Global Equity | Dynamic Global vs. Mawer Global Equity | Dynamic Global vs. PHN Canadian Equity |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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