Correlation Between CI Global and CI Global
Specify exactly 2 symbols:
By analyzing existing cross correlation between CI Global Alpha and CI Global Unconstrained, you can compare the effects of market volatilities on CI Global and CI 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 Global with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and CI Global.
Diversification Opportunities for CI Global and CI Global
Poor diversification
The 3 months correlation between CIG18006 and CUBD is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Alpha and CI Global Unconstrained in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Global Unconstrained and CI Global 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 Global Alpha are associated (or correlated) with CI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Global Unconstrained has no effect on the direction of CI Global i.e., CI Global and CI Global go up and down completely randomly.
Pair Corralation between CI Global and CI Global
If you would invest (100.00) in CI Global Unconstrained on November 6, 2024 and sell it today you would earn a total of 100.00 from holding CI Global Unconstrained or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CI Global Alpha vs. CI Global Unconstrained
Performance |
| Timeline |
| CI Global Alpha |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| CI Global Unconstrained |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
CI Global and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and CI Global
The main advantage of trading using opposite CI Global and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, CI 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 CI Global will offset losses from the drop in CI Global's long position.| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth |
| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |