Correlation Between SPTSX Dividend and Caldwell Partners
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Caldwell Partners International, you can compare the effects of market volatilities on SPTSX Dividend and Caldwell Partners 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 Caldwell Partners. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Caldwell Partners.
Diversification Opportunities for SPTSX Dividend and Caldwell Partners
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between SPTSX and Caldwell is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Caldwell Partners Internationa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Caldwell Partners 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 Caldwell Partners. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Caldwell Partners has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Caldwell Partners go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Caldwell Partners
Assuming the 90 days trading horizon SPTSX Dividend is expected to generate 3.98 times less return on investment than Caldwell Partners. But when comparing it to its historical volatility, SPTSX Dividend Aristocrats is 8.78 times less risky than Caldwell Partners. It trades about 0.2 of its potential returns per unit of risk. Caldwell Partners International is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 104.00 in Caldwell Partners International on August 31, 2024 and sell it today you would earn a total of 7.00 from holding Caldwell Partners International or generate 6.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Caldwell Partners Internationa
Performance |
| Timeline |
SPTSX Dividend and Caldwell Partners Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Caldwell Partners International
Pair trading matchups for Caldwell Partners
Pair Trading with SPTSX Dividend and Caldwell Partners
The main advantage of trading using opposite SPTSX Dividend and Caldwell Partners positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Caldwell Partners 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 Caldwell Partners will offset losses from the drop in Caldwell Partners' long position.| SPTSX Dividend vs. Canadian Imperial Bank | SPTSX Dividend vs. Renoworks Software | SPTSX Dividend vs. CI Financial Corp | SPTSX Dividend vs. CVW CleanTech |
| Caldwell Partners vs. Baylin Technologies | Caldwell Partners vs. Supremex | Caldwell Partners vs. iShares Canadian HYBrid | Caldwell Partners vs. Brompton European 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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