Correlation Between CI Global and Edgepoint Cdn
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By analyzing existing cross correlation between CI Global Unconstrained and Edgepoint Cdn Growth, you can compare the effects of market volatilities on CI Global and Edgepoint Cdn 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 Edgepoint Cdn. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and Edgepoint Cdn.
Diversification Opportunities for CI Global and Edgepoint Cdn
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CUBD and Edgepoint is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Unconstrained and Edgepoint Cdn Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Edgepoint Cdn Growth 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 Edgepoint Cdn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Edgepoint Cdn Growth has no effect on the direction of CI Global i.e., CI Global and Edgepoint Cdn go up and down completely randomly.
Pair Corralation between CI Global and Edgepoint Cdn
Assuming the 90 days trading horizon CI Global is expected to generate 1.6 times less return on investment than Edgepoint Cdn. But when comparing it to its historical volatility, CI Global Unconstrained is 1.68 times less risky than Edgepoint Cdn. It trades about 0.09 of its potential returns per unit of risk. Edgepoint Cdn Growth is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 2,609 in Edgepoint Cdn Growth on October 28, 2024 and sell it today you would earn a total of 538.00 from holding Edgepoint Cdn Growth or generate 20.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 27.31% |
| Values | Daily Returns |
CI Global Unconstrained vs. Edgepoint Cdn Growth
Performance |
| Timeline |
| CI Global Unconstrained |
| Edgepoint Cdn Growth |
CI Global and Edgepoint Cdn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Global and Edgepoint Cdn
The main advantage of trading using opposite CI Global and Edgepoint Cdn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, Edgepoint Cdn 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 Edgepoint Cdn will offset losses from the drop in Edgepoint Cdn's long position.| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth |
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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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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