Correlation Between Atrium Mortgage and Enbridge Pref
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By analyzing existing cross correlation between Atrium Mortgage Investment and Enbridge Pref 5, you can compare the effects of market volatilities on Atrium Mortgage and Enbridge Pref 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 Atrium Mortgage with a short position of Enbridge Pref. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Mortgage and Enbridge Pref.
Diversification Opportunities for Atrium Mortgage and Enbridge Pref
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Atrium and Enbridge is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Mortgage Investment and Enbridge Pref 5 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Enbridge Pref 5 and Atrium Mortgage 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 Atrium Mortgage Investment are associated (or correlated) with Enbridge Pref. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Enbridge Pref 5 has no effect on the direction of Atrium Mortgage i.e., Atrium Mortgage and Enbridge Pref go up and down completely randomly.
Pair Corralation between Atrium Mortgage and Enbridge Pref
Assuming the 90 days horizon Atrium Mortgage Investment is expected to generate 1.6 times more return on investment than Enbridge Pref. However, Atrium Mortgage is 1.6 times more volatile than Enbridge Pref 5. It trades about 0.23 of its potential returns per unit of risk. Enbridge Pref 5 is currently generating about 0.15 per unit of risk. If you would invest 1,106 in Atrium Mortgage Investment on September 12, 2024 and sell it today you would earn a total of 31.00 from holding Atrium Mortgage Investment or generate 2.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 91.3% |
| Values | Daily Returns |
Atrium Mortgage Investment vs. Enbridge Pref 5
Performance |
| Timeline |
| Atrium Mortgage Inve |
| Enbridge Pref 5 |
Atrium Mortgage and Enbridge Pref Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Mortgage and Enbridge Pref
The main advantage of trading using opposite Atrium Mortgage and Enbridge Pref positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Mortgage position performs unexpectedly, Enbridge Pref 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 Enbridge Pref will offset losses from the drop in Enbridge Pref's long position.| Atrium Mortgage vs. Brompton Lifeco Split | Atrium Mortgage vs. North American Financial | Atrium Mortgage vs. Prime Dividend Corp | Atrium Mortgage vs. Financial 15 Split |
| Enbridge Pref vs. Enbridge Pref 11 | Enbridge Pref vs. Enbridge Pref L | Enbridge Pref vs. E Split Corp | Enbridge Pref vs. E Split Corp |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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