Correlation Between SPTSX Dividend and CI Global
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and CI Global Infrastructure, you can compare the effects of market volatilities on SPTSX Dividend and CI 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 CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and CI Global.
Diversification Opportunities for SPTSX Dividend and CI Global
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between SPTSX and CINF is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and CI Global Infrastructure in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Global Infrastructure 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 CI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Global Infrastructure has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and CI Global go up and down completely randomly.
Pair Corralation between SPTSX Dividend and CI Global
Assuming the 90 days trading horizon SPTSX Dividend Aristocrats is expected to generate 0.71 times more return on investment than CI Global. However, SPTSX Dividend Aristocrats is 1.41 times less risky than CI Global. It trades about 0.33 of its potential returns per unit of risk. CI Global Infrastructure is currently generating about 0.22 per unit of risk. If you would invest 34,017 in SPTSX Dividend Aristocrats on August 28, 2024 and sell it today you would earn a total of 3,273 from holding SPTSX Dividend Aristocrats or generate 9.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. CI Global Infrastructure
Performance |
| Timeline |
SPTSX Dividend and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
CI Global Infrastructure
Pair trading matchups for CI Global
Pair Trading with SPTSX Dividend and CI Global
The main advantage of trading using opposite SPTSX Dividend and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, CI 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 CI Global will offset losses from the drop in CI Global's long position.| SPTSX Dividend vs. High Liner Foods | SPTSX Dividend vs. TUT Fitness Group | SPTSX Dividend vs. MTY Food Group | SPTSX Dividend vs. UnitedHealth Group CDR |
| CI Global vs. CI Global REIT | CI Global vs. CI Global Real | CI Global vs. CI Marret Alternative | CI Global vs. CI Global Financial |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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