Correlation Between Citadel Income and RBC Select
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By analyzing existing cross correlation between Citadel Income and RBC Select Balanced, you can compare the effects of market volatilities on Citadel Income and RBC Select 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 Citadel Income with a short position of RBC Select. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citadel Income and RBC Select.
Diversification Opportunities for Citadel Income and RBC Select
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Citadel and RBC is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Citadel Income and RBC Select Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Select Balanced and Citadel Income 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 Citadel Income are associated (or correlated) with RBC Select. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Select Balanced has no effect on the direction of Citadel Income i.e., Citadel Income and RBC Select go up and down completely randomly.
Pair Corralation between Citadel Income and RBC Select
Assuming the 90 days trading horizon Citadel Income is expected to generate 8.57 times more return on investment than RBC Select. However, Citadel Income is 8.57 times more volatile than RBC Select Balanced. It trades about 0.07 of its potential returns per unit of risk. RBC Select Balanced is currently generating about 0.43 per unit of risk. If you would invest 252.00 in Citadel Income on September 13, 2024 and sell it today you would earn a total of 7.00 from holding Citadel Income or generate 2.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citadel Income vs. RBC Select Balanced
Performance |
| Timeline |
| Citadel Income |
| RBC Select Balanced |
Citadel Income and RBC Select Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citadel Income and RBC Select
The main advantage of trading using opposite Citadel Income and RBC Select positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citadel Income position performs unexpectedly, RBC Select 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 RBC Select will offset losses from the drop in RBC Select's long position.| Citadel Income vs. Blue Ribbon Income | Citadel Income vs. MINT Income Fund | Citadel Income vs. Energy Income | Citadel Income vs. Canadian High Income |
| RBC Select vs. RBC mondial dnergie | RBC Select vs. RBC dactions mondiales | RBC Select vs. RBC European Mid Cap | RBC Select vs. RBC Global Technology |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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