Correlation Between IA Financial and SPTSX Dividend
Specify exactly 2 symbols:
By analyzing existing cross correlation between iA Financial and SPTSX Dividend Aristocrats, you can compare the effects of market volatilities on IA Financial and SPTSX Dividend 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 IA Financial with a short position of SPTSX Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of IA Financial and SPTSX Dividend.
Diversification Opportunities for IA Financial and SPTSX Dividend
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between IAG and SPTSX is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding iA Financial and SPTSX Dividend Aristocrats in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPTSX Dividend Arist and IA Financial 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 iA Financial are associated (or correlated) with SPTSX Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPTSX Dividend Arist has no effect on the direction of IA Financial i.e., IA Financial and SPTSX Dividend go up and down completely randomly.
Pair Corralation between IA Financial and SPTSX Dividend
Assuming the 90 days trading horizon iA Financial is expected to generate 2.54 times more return on investment than SPTSX Dividend. However, IA Financial is 2.54 times more volatile than SPTSX Dividend Aristocrats. It trades about 0.1 of its potential returns per unit of risk. SPTSX Dividend Aristocrats is currently generating about -0.1 per unit of risk. If you would invest 13,107 in iA Financial on September 15, 2024 and sell it today you would earn a total of 251.00 from holding iA Financial or generate 1.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
iA Financial vs. SPTSX Dividend Aristocrats
Performance |
| Timeline |
IA Financial and SPTSX Dividend Volatility Contrast
Predicted Return Density |
| Returns |
iA Financial
Pair trading matchups for IA Financial
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Pair Trading with IA Financial and SPTSX Dividend
The main advantage of trading using opposite IA Financial and SPTSX Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IA Financial position performs unexpectedly, SPTSX Dividend 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 SPTSX Dividend will offset losses from the drop in SPTSX Dividend's long position.| IA Financial vs. Intact Financial | IA Financial vs. IGM Financial | IA Financial vs. Sun Life Financial | IA Financial vs. Laurentian Bank |
| SPTSX Dividend vs. Olympia Financial Group | SPTSX Dividend vs. Computer Modelling Group | SPTSX Dividend vs. iA Financial | SPTSX Dividend vs. Canadian Imperial Bank |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |