Correlation Between SPTSX Dividend and Mawer Global
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Mawer Global Small, you can compare the effects of market volatilities on SPTSX Dividend and Mawer Global 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 SPTSX Dividend with a short position of Mawer Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Mawer Global.
Diversification Opportunities for SPTSX Dividend and Mawer Global
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SPTSX and Mawer is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Mawer Global Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mawer Global Small and SPTSX Dividend 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 SPTSX Dividend Aristocrats are associated (or correlated) with Mawer Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mawer Global Small has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Mawer Global go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Mawer Global
Assuming the 90 days trading horizon SPTSX Dividend Aristocrats is expected to generate 0.54 times more return on investment than Mawer Global. However, SPTSX Dividend Aristocrats is 1.84 times less risky than Mawer Global. It trades about 0.37 of its potential returns per unit of risk. Mawer Global Small is currently generating about 0.09 per unit of risk. If you would invest 36,467 in SPTSX Dividend Aristocrats on September 3, 2024 and sell it today you would earn a total of 1,104 from holding SPTSX Dividend Aristocrats or generate 3.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Mawer Global Small
Performance |
| Timeline |
SPTSX Dividend and Mawer Global Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Mawer Global Small
Pair trading matchups for Mawer Global
Pair Trading with SPTSX Dividend and Mawer Global
The main advantage of trading using opposite SPTSX Dividend and Mawer Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Mawer Global 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 Mawer Global will offset losses from the drop in Mawer Global's long position.| SPTSX Dividend vs. 2028 Investment Grade | SPTSX Dividend vs. Upstart Investments | SPTSX Dividend vs. Brookfield Investments | SPTSX Dividend vs. Atrium Mortgage Investment |
| Mawer Global vs. BMO Aggregate Bond | Mawer Global vs. iShares Canadian HYBrid | Mawer Global vs. Brompton European Dividend | Mawer Global vs. Solar Alliance Energy |
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 Managers module to screen money managers from public funds and ETFs managed around the world.
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