Correlation Between CI Global and CI Synergy
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By analyzing existing cross correlation between CI Global Unconstrained and CI Synergy American, you can compare the effects of market volatilities on CI Global and CI Synergy 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 Synergy. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and CI Synergy.
Diversification Opportunities for CI Global and CI Synergy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CUBD and 0P000075Q1 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Unconstrained and CI Synergy American in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Synergy American 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 Unconstrained are associated (or correlated) with CI Synergy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Synergy American has no effect on the direction of CI Global i.e., CI Global and CI Synergy go up and down completely randomly.
Pair Corralation between CI Global and CI Synergy
If you would invest (100.00) in CI Synergy American on October 28, 2024 and sell it today you would earn a total of 100.00 from holding CI Synergy American or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CI Global Unconstrained vs. CI Synergy American
Performance |
| Timeline |
| CI Global Unconstrained |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
| CI Synergy American |
CI Global and CI Synergy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and CI Synergy
The main advantage of trading using opposite CI Global and CI Synergy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, CI Synergy 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 Synergy will offset losses from the drop in CI Synergy's long position.| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. Manulife Global Equity |
| CI Synergy vs. Fidelity Tactical High | CI Synergy vs. Bloom Select Income | CI Synergy vs. Mackenzie Ivy European | CI Synergy vs. Global Healthcare Income |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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