Correlation Between SPTSX Dividend and Bell Copper
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Bell Copper Corp, you can compare the effects of market volatilities on SPTSX Dividend and Bell Copper 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 Bell Copper. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Bell Copper.
Diversification Opportunities for SPTSX Dividend and Bell Copper
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SPTSX and Bell is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Bell Copper Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bell Copper Corp 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 Bell Copper. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bell Copper Corp has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Bell Copper go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Bell Copper
Assuming the 90 days trading horizon SPTSX Dividend Aristocrats is expected to generate 0.06 times more return on investment than Bell Copper. However, SPTSX Dividend Aristocrats is 16.44 times less risky than Bell Copper. It trades about 0.26 of its potential returns per unit of risk. Bell Copper Corp is currently generating about -0.02 per unit of risk. If you would invest 31,074 in SPTSX Dividend Aristocrats on September 15, 2024 and sell it today you would earn a total of 5,642 from holding SPTSX Dividend Aristocrats or generate 18.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.22% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Bell Copper Corp
Performance |
| Timeline |
SPTSX Dividend and Bell Copper Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Bell Copper Corp
Pair trading matchups for Bell Copper
Pair Trading with SPTSX Dividend and Bell Copper
The main advantage of trading using opposite SPTSX Dividend and Bell Copper positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Bell Copper 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 Bell Copper will offset losses from the drop in Bell Copper's long position.| SPTSX Dividend vs. Olympia Financial Group | SPTSX Dividend vs. Computer Modelling Group | SPTSX Dividend vs. iA Financial | SPTSX Dividend vs. Canadian Imperial Bank |
| Bell Copper vs. Pacific Ridge Exploration | Bell Copper vs. BCM Resources Corp | Bell Copper vs. Dore Copper Mining | Bell Copper vs. Goliath Resources |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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