Correlation Between C I and GREENWICH ASSET
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By analyzing existing cross correlation between C I LEASING and GREENWICH ASSET ETF, you can compare the effects of market volatilities on C I and GREENWICH ASSET 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 C I with a short position of GREENWICH ASSET. Check out your portfolio center. Please also check ongoing floating volatility patterns of C I and GREENWICH ASSET.
Diversification Opportunities for C I and GREENWICH ASSET
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CILEASING and GREENWICH is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding C I LEASING and GREENWICH ASSET ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GREENWICH ASSET ETF and C I 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 C I LEASING are associated (or correlated) with GREENWICH ASSET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GREENWICH ASSET ETF has no effect on the direction of C I i.e., C I and GREENWICH ASSET go up and down completely randomly.
Pair Corralation between C I and GREENWICH ASSET
Assuming the 90 days trading horizon C I LEASING is expected to under-perform the GREENWICH ASSET. In addition to that, C I is 1.71 times more volatile than GREENWICH ASSET ETF. It trades about -0.13 of its total potential returns per unit of risk. GREENWICH ASSET ETF is currently generating about 0.0 per unit of volatility. If you would invest 53,400 in GREENWICH ASSET ETF on November 4, 2024 and sell it today you would lose (400.00) from holding GREENWICH ASSET ETF or give up 0.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
C I LEASING vs. GREENWICH ASSET ETF
Performance |
| Timeline |
| C I LEASING |
| GREENWICH ASSET ETF |
C I and GREENWICH ASSET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C I and GREENWICH ASSET
The main advantage of trading using opposite C I and GREENWICH ASSET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C I position performs unexpectedly, GREENWICH ASSET 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 GREENWICH ASSET will offset losses from the drop in GREENWICH ASSET's long position.| C I vs. GUINEA INSURANCE PLC | C I vs. SECURE ELECTRONIC TECHNOLOGY | C I vs. VFD GROUP | C I vs. IKEJA HOTELS PLC |
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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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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