Correlation Between Hamilton Enhanced and CI Canadian
Can any of the company-specific risk be diversified away by investing in both Hamilton Enhanced and CI Canadian at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Hamilton Enhanced and CI Canadian into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hamilton Enhanced Canadian and CI Canadian REIT, you can compare the effects of market volatilities on Hamilton Enhanced and CI Canadian 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 Hamilton Enhanced with a short position of CI Canadian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hamilton Enhanced and CI Canadian.
Diversification Opportunities for Hamilton Enhanced and CI Canadian
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Hamilton and RIT is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Enhanced Canadian and CI Canadian REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Canadian REIT and Hamilton Enhanced 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 Hamilton Enhanced Canadian are associated (or correlated) with CI Canadian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Canadian REIT has no effect on the direction of Hamilton Enhanced i.e., Hamilton Enhanced and CI Canadian go up and down completely randomly.
Pair Corralation between Hamilton Enhanced and CI Canadian
Assuming the 90 days trading horizon Hamilton Enhanced Canadian is expected to generate 1.39 times more return on investment than CI Canadian. However, Hamilton Enhanced is 1.39 times more volatile than CI Canadian REIT. It trades about 0.22 of its potential returns per unit of risk. CI Canadian REIT is currently generating about 0.17 per unit of risk. If you would invest 3,301 in Hamilton Enhanced Canadian on November 17, 2025 and sell it today you would earn a total of 437.00 from holding Hamilton Enhanced Canadian or generate 13.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hamilton Enhanced Canadian vs. CI Canadian REIT
Performance |
| Timeline |
| Hamilton Enhanced |
| CI Canadian REIT |
Hamilton Enhanced and CI Canadian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hamilton Enhanced and CI Canadian
The main advantage of trading using opposite Hamilton Enhanced and CI Canadian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hamilton Enhanced position performs unexpectedly, CI Canadian 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 Canadian will offset losses from the drop in CI Canadian's long position.| Hamilton Enhanced vs. Evolve Canadian Banks | Hamilton Enhanced vs. CI Canada Quality | Hamilton Enhanced vs. First Asset Morningstar | Hamilton Enhanced vs. Vanguard FTSE Developed |
| CI Canadian vs. TD Q Global | CI Canadian vs. Fidelity Canadian High | CI Canadian vs. iShares Global Healthcare | CI Canadian vs. BMO Long Corporate |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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