Correlation Between Bloom Select and Edgepoint Global
Specify exactly 2 symbols:
By analyzing existing cross correlation between Bloom Select Income and Edgepoint Global Portfolio, you can compare the effects of market volatilities on Bloom Select and Edgepoint 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 Bloom Select with a short position of Edgepoint Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bloom Select and Edgepoint Global.
Diversification Opportunities for Bloom Select and Edgepoint Global
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Bloom and Edgepoint is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Bloom Select Income and Edgepoint Global Portfolio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Edgepoint Global Por and Bloom Select 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 Bloom Select Income are associated (or correlated) with Edgepoint Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Edgepoint Global Por has no effect on the direction of Bloom Select i.e., Bloom Select and Edgepoint Global go up and down completely randomly.
Pair Corralation between Bloom Select and Edgepoint Global
Assuming the 90 days trading horizon Bloom Select Income is expected to under-perform the Edgepoint Global. In addition to that, Bloom Select is 3.29 times more volatile than Edgepoint Global Portfolio. It trades about -0.03 of its total potential returns per unit of risk. Edgepoint Global Portfolio is currently generating about 0.14 per unit of volatility. If you would invest 3,854 in Edgepoint Global Portfolio on September 12, 2024 and sell it today you would earn a total of 74.00 from holding Edgepoint Global Portfolio or generate 1.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bloom Select Income vs. Edgepoint Global Portfolio
Performance |
| Timeline |
| Bloom Select Income |
| Edgepoint Global Por |
Bloom Select and Edgepoint Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bloom Select and Edgepoint Global
The main advantage of trading using opposite Bloom Select and Edgepoint Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bloom Select position performs unexpectedly, Edgepoint 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 Edgepoint Global will offset losses from the drop in Edgepoint Global's long position.| Bloom Select vs. Canadian High Income | Bloom Select vs. Blue Ribbon Income | Bloom Select vs. Energy Income | Bloom Select vs. Australian REIT Income |
| Edgepoint Global vs. Edgepoint Cdn Growth | Edgepoint Global vs. Edgepoint Global Growth | Edgepoint Global vs. Edgepoint Canadian Portfolio | Edgepoint Global vs. Edgepoint Canadian 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Stocks Directory Find actively traded stocks across global markets | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |