Correlation Between Dynamic Global and CI Signature
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By analyzing existing cross correlation between Dynamic Global Fixed and CI Signature Cat, you can compare the effects of market volatilities on Dynamic Global and CI Signature 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 Dynamic Global with a short position of CI Signature. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dynamic Global and CI Signature.
Diversification Opportunities for Dynamic Global and CI Signature
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Dynamic and 0P0001FKWD is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Global Fixed and CI Signature Cat in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Signature Cat and Dynamic 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 Dynamic Global Fixed are associated (or correlated) with CI Signature. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Signature Cat has no effect on the direction of Dynamic Global i.e., Dynamic Global and CI Signature go up and down completely randomly.
Pair Corralation between Dynamic Global and CI Signature
Assuming the 90 days trading horizon Dynamic Global Fixed is expected to generate 0.07 times more return on investment than CI Signature. However, Dynamic Global Fixed is 14.49 times less risky than CI Signature. It trades about 0.36 of its potential returns per unit of risk. CI Signature Cat is currently generating about -0.11 per unit of risk. If you would invest 1,998 in Dynamic Global Fixed on November 28, 2024 and sell it today you would earn a total of 13.00 from holding Dynamic Global Fixed or generate 0.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dynamic Global Fixed vs. CI Signature Cat
Performance |
| Timeline |
| Dynamic Global Fixed |
| CI Signature Cat |
Dynamic Global and CI Signature Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dynamic Global and CI Signature
The main advantage of trading using opposite Dynamic Global and CI Signature positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dynamic Global position performs unexpectedly, CI Signature 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 Signature will offset losses from the drop in CI Signature's long position.| Dynamic Global vs. Dfa World Equity | Dynamic Global vs. Fidelity Global Equity | Dynamic Global vs. Mawer Global Equity | Dynamic Global vs. PHN Canadian Equity |
| CI Signature vs. Fidelity Tactical High | CI Signature vs. Bloom Select Income | CI Signature vs. Global Healthcare Income | CI Signature vs. Dynamic Alternative Yield |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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