Correlation Between 1 KIWIBANK and CSIF I
Specify exactly 2 symbols:
By analyzing existing cross correlation between 1 KIWIBANK 20 and CSIF I Bond, you can compare the effects of market volatilities on 1 KIWIBANK and CSIF I 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 1 KIWIBANK with a short position of CSIF I. Check out your portfolio center. Please also check ongoing floating volatility patterns of 1 KIWIBANK and CSIF I.
Diversification Opportunities for 1 KIWIBANK and CSIF I
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KIW13 and CSIF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding 1 KIWIBANK 20 and CSIF I Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSIF I Bond and 1 KIWIBANK 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 1 KIWIBANK 20 are associated (or correlated) with CSIF I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSIF I Bond has no effect on the direction of 1 KIWIBANK i.e., 1 KIWIBANK and CSIF I go up and down completely randomly.
Pair Corralation between 1 KIWIBANK and CSIF I
If you would invest 64,331 in CSIF I Bond on September 25, 2024 and sell it today you would earn a total of 2,349 from holding CSIF I Bond or generate 3.65% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
1 KIWIBANK 20 vs. CSIF I Bond
Performance |
Timeline |
1 KIWIBANK 20 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
CSIF I Bond |
1 KIWIBANK and CSIF I Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with 1 KIWIBANK and CSIF I
The main advantage of trading using opposite 1 KIWIBANK and CSIF I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 1 KIWIBANK position performs unexpectedly, CSIF I 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 CSIF I will offset losses from the drop in CSIF I's long position.The idea behind 1 KIWIBANK 20 and CSIF I Bond pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.CSIF I vs. CSIF III Eq | ||
CSIF I vs. UBS Property | ||
CSIF I vs. Procimmo Real Estate | ||
CSIF I vs. Baloise Holding AG |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |