Correlation Between Canadian General and 2028 Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Canadian General Investments and 2028 Investment Grade, you can compare the effects of market volatilities on Canadian General and 2028 Investment 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 Canadian General with a short position of 2028 Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Canadian General and 2028 Investment.
Diversification Opportunities for Canadian General and 2028 Investment
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Canadian and 2028 is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Canadian General Investments and 2028 Investment Grade in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 2028 Investment Grade and Canadian General 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 Canadian General Investments are associated (or correlated) with 2028 Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 2028 Investment Grade has no effect on the direction of Canadian General i.e., Canadian General and 2028 Investment go up and down completely randomly.
Pair Corralation between Canadian General and 2028 Investment
Assuming the 90 days trading horizon Canadian General Investments is expected to generate 1.27 times more return on investment than 2028 Investment. However, Canadian General is 1.27 times more volatile than 2028 Investment Grade. It trades about 0.1 of its potential returns per unit of risk. 2028 Investment Grade is currently generating about 0.06 per unit of risk. If you would invest 4,025 in Canadian General Investments on August 28, 2024 and sell it today you would earn a total of 75.00 from holding Canadian General Investments or generate 1.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Canadian General Investments vs. 2028 Investment Grade
Performance |
| Timeline |
| Canadian General Inv |
| 2028 Investment Grade |
Canadian General and 2028 Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Canadian General and 2028 Investment
The main advantage of trading using opposite Canadian General and 2028 Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Canadian General position performs unexpectedly, 2028 Investment 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 2028 Investment will offset losses from the drop in 2028 Investment's long position.| Canadian General vs. NVIDIA CDR | Canadian General vs. Apple Inc CDR | Canadian General vs. Microsoft Corp CDR | Canadian General vs. Amazon CDR |
| 2028 Investment vs. NVIDIA CDR | 2028 Investment vs. Apple Inc CDR | 2028 Investment vs. Microsoft Corp CDR | 2028 Investment vs. Alphabet Inc CDR |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |