Correlation Between Hamilton Energy and RBC Quant
Can any of the company-specific risk be diversified away by investing in both Hamilton Energy and RBC Quant at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Hamilton Energy and RBC Quant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hamilton Energy YIELD and RBC Quant Canadian, you can compare the effects of market volatilities on Hamilton Energy and RBC Quant 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 Hamilton Energy with a short position of RBC Quant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hamilton Energy and RBC Quant.
Diversification Opportunities for Hamilton Energy and RBC Quant
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Hamilton and RBC is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Energy YIELD and RBC Quant Canadian in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Quant Canadian and Hamilton Energy 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 Hamilton Energy YIELD are associated (or correlated) with RBC Quant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Quant Canadian has no effect on the direction of Hamilton Energy i.e., Hamilton Energy and RBC Quant go up and down completely randomly.
Pair Corralation between Hamilton Energy and RBC Quant
Assuming the 90 days trading horizon Hamilton Energy is expected to generate 3.32 times less return on investment than RBC Quant. In addition to that, Hamilton Energy is 2.76 times more volatile than RBC Quant Canadian. It trades about 0.05 of its total potential returns per unit of risk. RBC Quant Canadian is currently generating about 0.46 per unit of volatility. If you would invest 3,694 in RBC Quant Canadian on October 13, 2025 and sell it today you would earn a total of 163.00 from holding RBC Quant Canadian or generate 4.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hamilton Energy YIELD vs. RBC Quant Canadian
Performance |
| Timeline |
| Hamilton Energy YIELD |
| RBC Quant Canadian |
Hamilton Energy and RBC Quant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hamilton Energy and RBC Quant
The main advantage of trading using opposite Hamilton Energy and RBC Quant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hamilton Energy position performs unexpectedly, RBC Quant 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 Quant will offset losses from the drop in RBC Quant's long position.| Hamilton Energy vs. Hamilton Gold Producer | Hamilton Energy vs. Global X Enhanced | Hamilton Energy vs. Global X Equal | Hamilton Energy vs. iShares Equal Weight |
| RBC Quant vs. RBC Quant Dividend | RBC Quant vs. RBC Quant Dividend | RBC Quant vs. Fidelity Canadian High | RBC Quant vs. iShares MSCI Europe |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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