Correlation Between 2028 Investment and Maple Leaf
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By analyzing existing cross correlation between 2028 Investment Grade and Maple Leaf Foods, you can compare the effects of market volatilities on 2028 Investment and Maple Leaf 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 2028 Investment with a short position of Maple Leaf. Check out your portfolio center. Please also check ongoing floating volatility patterns of 2028 Investment and Maple Leaf.
Diversification Opportunities for 2028 Investment and Maple Leaf
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 2028 and Maple is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding 2028 Investment Grade and Maple Leaf Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maple Leaf Foods and 2028 Investment 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 2028 Investment Grade are associated (or correlated) with Maple Leaf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maple Leaf Foods has no effect on the direction of 2028 Investment i.e., 2028 Investment and Maple Leaf go up and down completely randomly.
Pair Corralation between 2028 Investment and Maple Leaf
Assuming the 90 days trading horizon 2028 Investment Grade is expected to generate 0.54 times more return on investment than Maple Leaf. However, 2028 Investment Grade is 1.85 times less risky than Maple Leaf. It trades about 0.14 of its potential returns per unit of risk. Maple Leaf Foods is currently generating about -0.03 per unit of risk. If you would invest 1,035 in 2028 Investment Grade on September 15, 2024 and sell it today you would earn a total of 26.00 from holding 2028 Investment Grade or generate 2.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
2028 Investment Grade vs. Maple Leaf Foods
Performance |
| Timeline |
| 2028 Investment Grade |
| Maple Leaf Foods |
2028 Investment and Maple Leaf Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 2028 Investment and Maple Leaf
The main advantage of trading using opposite 2028 Investment and Maple Leaf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 2028 Investment position performs unexpectedly, Maple Leaf 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 Maple Leaf will offset losses from the drop in Maple Leaf's long position.| 2028 Investment vs. Apple Inc CDR | 2028 Investment vs. NVIDIA CDR | 2028 Investment vs. Microsoft Corp CDR | 2028 Investment vs. Amazon CDR |
| Maple Leaf vs. Leons Furniture Limited | Maple Leaf vs. Autocanada | Maple Leaf vs. Exco Technologies Limited |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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