Correlation Between Fidelity High and RBC Quant
Can any of the company-specific risk be diversified away by investing in both Fidelity High 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 Fidelity High and RBC Quant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity High Dividend and RBC Quant EAFE, you can compare the effects of market volatilities on Fidelity High 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 Fidelity High with a short position of RBC Quant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity High and RBC Quant.
Diversification Opportunities for Fidelity High and RBC Quant
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fidelity and RBC is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity High Dividend and RBC Quant EAFE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Quant EAFE and Fidelity High 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 Fidelity High Dividend 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 EAFE has no effect on the direction of Fidelity High i.e., Fidelity High and RBC Quant go up and down completely randomly.
Pair Corralation between Fidelity High and RBC Quant
Assuming the 90 days trading horizon Fidelity High Dividend is expected to under-perform the RBC Quant. In addition to that, Fidelity High is 1.17 times more volatile than RBC Quant EAFE. It trades about -0.02 of its total potential returns per unit of risk. RBC Quant EAFE is currently generating about 0.19 per unit of volatility. If you would invest 3,475 in RBC Quant EAFE on November 13, 2025 and sell it today you would earn a total of 345.00 from holding RBC Quant EAFE or generate 9.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.39% |
| Values | Daily Returns |
Fidelity High Dividend vs. RBC Quant EAFE
Performance |
| Timeline |
| Fidelity High Dividend |
| RBC Quant EAFE |
Fidelity High and RBC Quant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity High and RBC Quant
The main advantage of trading using opposite Fidelity High and RBC Quant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity High 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.| Fidelity High vs. Fidelity Value Currency | Fidelity High vs. Fidelity Canadian High | Fidelity High vs. Fidelity International High | Fidelity High vs. iShares MSCI USA |
| RBC Quant vs. RBC Quant EAFE | RBC Quant vs. Purpose Enhanced Dividend | RBC Quant vs. Global X SPTSX | RBC Quant vs. RBC Quant Dividend |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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