Correlation Between AGF Management and Maple Peak
Can any of the company-specific risk be diversified away by investing in both AGF Management and Maple Peak at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining AGF Management and Maple Peak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AGF Management Limited and Maple Peak Investments, you can compare the effects of market volatilities on AGF Management and Maple Peak 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 AGF Management with a short position of Maple Peak. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGF Management and Maple Peak.
Diversification Opportunities for AGF Management and Maple Peak
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AGF and Maple is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AGF Management Limited and Maple Peak Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maple Peak Investments and AGF Management 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 AGF Management Limited are associated (or correlated) with Maple Peak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maple Peak Investments has no effect on the direction of AGF Management i.e., AGF Management and Maple Peak go up and down completely randomly.
Pair Corralation between AGF Management and Maple Peak
If you would invest 778.00 in AGF Management Limited on November 3, 2024 and sell it today you would earn a total of 350.00 from holding AGF Management Limited or generate 44.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AGF Management Limited vs. Maple Peak Investments
Performance |
| Timeline |
| AGF Management |
| Maple Peak Investments |
AGF Management and Maple Peak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGF Management and Maple Peak
The main advantage of trading using opposite AGF Management and Maple Peak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGF Management position performs unexpectedly, Maple Peak 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 Maple Peak will offset losses from the drop in Maple Peak's long position.| AGF Management vs. IGM Financial | AGF Management vs. CI Financial Corp | AGF Management vs. iA Financial | AGF Management vs. Transcontinental |
| Maple Peak vs. Toronto Dominion Bank Pref | Maple Peak vs. Amazon CDR | Maple Peak vs. Toronto Dominion Bank | Maple Peak vs. Brookfield |
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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