Correlation Between SPTSX Dividend and Elixxer
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Elixxer, you can compare the effects of market volatilities on SPTSX Dividend and Elixxer 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 Elixxer. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Elixxer.
Diversification Opportunities for SPTSX Dividend and Elixxer
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SPTSX and Elixxer is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Elixxer in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Elixxer 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 Elixxer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Elixxer has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Elixxer go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Elixxer
If you would invest 31,545 in SPTSX Dividend Aristocrats on September 1, 2024 and sell it today you would earn a total of 6,026 from holding SPTSX Dividend Aristocrats or generate 19.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Elixxer
Performance |
| Timeline |
SPTSX Dividend and Elixxer Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Elixxer
Pair trading matchups for Elixxer
Pair Trading with SPTSX Dividend and Elixxer
The main advantage of trading using opposite SPTSX Dividend and Elixxer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Elixxer 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 Elixxer will offset losses from the drop in Elixxer's long position.| SPTSX Dividend vs. Metalero Mining Corp | SPTSX Dividend vs. TUT Fitness Group | SPTSX Dividend vs. Dream Industrial Real | SPTSX Dividend vs. Nicola Mining |
| Elixxer vs. iShares Canadian HYBrid | Elixxer vs. Altagas Cum Red | Elixxer vs. European Residential Real | Elixxer vs. iShares Fundamental Hedged |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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