Correlation Between SPTSX Dividend and Lysander Slater
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Lysander Slater Preferred Share, you can compare the effects of market volatilities on SPTSX Dividend and Lysander Slater 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 Lysander Slater. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Lysander Slater.
Diversification Opportunities for SPTSX Dividend and Lysander Slater
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between SPTSX and Lysander is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Lysander Slater Preferred Shar in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lysander Slater Pref 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 Lysander Slater. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lysander Slater Pref has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Lysander Slater go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Lysander Slater
Assuming the 90 days trading horizon SPTSX Dividend Aristocrats is expected to generate 1.22 times more return on investment than Lysander Slater. However, SPTSX Dividend is 1.22 times more volatile than Lysander Slater Preferred Share. It trades about 0.26 of its potential returns per unit of risk. Lysander Slater Preferred Share is currently generating about 0.11 per unit of risk. 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 | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.22% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Lysander Slater Preferred Shar
Performance |
| Timeline |
SPTSX Dividend and Lysander Slater Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Lysander Slater Preferred Share
Pair trading matchups for Lysander Slater
Pair Trading with SPTSX Dividend and Lysander Slater
The main advantage of trading using opposite SPTSX Dividend and Lysander Slater positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Lysander Slater 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 Lysander Slater will offset losses from the drop in Lysander Slater'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 |
| Lysander Slater vs. BMO Covered Call | Lysander Slater vs. Forstrong Global Income | Lysander Slater vs. BMO Aggregate Bond | Lysander Slater vs. iShares Canadian HYBrid |
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 Channel module to use Commodity Channel Index to analyze current equity momentum.
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