Correlation Between SPTSX Dividend and Intact Financial
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Intact Financial Corp, you can compare the effects of market volatilities on SPTSX Dividend and Intact Financial 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 Intact Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Intact Financial.
Diversification Opportunities for SPTSX Dividend and Intact Financial
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SPTSX and Intact is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Intact Financial Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intact Financial 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 Intact Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intact Financial Corp has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Intact Financial go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Intact Financial
Assuming the 90 days trading horizon SPTSX Dividend Aristocrats is expected to generate 0.73 times more return on investment than Intact Financial. However, SPTSX Dividend Aristocrats is 1.38 times less risky than Intact Financial. It trades about 0.09 of its potential returns per unit of risk. Intact Financial Corp is currently generating about 0.04 per unit of risk. If you would invest 30,279 in SPTSX Dividend Aristocrats on September 1, 2024 and sell it today you would earn a total of 7,292 from holding SPTSX Dividend Aristocrats or generate 24.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.47% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Intact Financial Corp
Performance |
| Timeline |
SPTSX Dividend and Intact Financial Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Intact Financial Corp
Pair trading matchups for Intact Financial
Pair Trading with SPTSX Dividend and Intact Financial
The main advantage of trading using opposite SPTSX Dividend and Intact Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Intact Financial 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 Intact Financial will offset losses from the drop in Intact Financial'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 |
| Intact Financial vs. Fairfax Financial Holdings | Intact Financial vs. iShares Canadian HYBrid | Intact Financial vs. Brompton European Dividend | Intact Financial 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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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