Correlation Between Maple Leaf and 2028 Investment
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By analyzing existing cross correlation between Maple Leaf Foods and 2028 Investment Grade, you can compare the effects of market volatilities on Maple Leaf and 2028 Investment 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 Maple Leaf with a short position of 2028 Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maple Leaf and 2028 Investment.
Diversification Opportunities for Maple Leaf and 2028 Investment
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Maple and 2028 is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Maple Leaf Foods and 2028 Investment Grade in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 2028 Investment Grade and Maple Leaf 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 Maple Leaf Foods are associated (or correlated) with 2028 Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 2028 Investment Grade has no effect on the direction of Maple Leaf i.e., Maple Leaf and 2028 Investment go up and down completely randomly.
Pair Corralation between Maple Leaf and 2028 Investment
Assuming the 90 days trading horizon Maple Leaf Foods is expected to under-perform the 2028 Investment. In addition to that, Maple Leaf is 2.17 times more volatile than 2028 Investment Grade. It trades about -0.02 of its total potential returns per unit of risk. 2028 Investment Grade is currently generating about 0.05 per unit of volatility. If you would invest 975.00 in 2028 Investment Grade on September 14, 2024 and sell it today you would earn a total of 86.00 from holding 2028 Investment Grade or generate 8.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 90.74% |
| Values | Daily Returns |
Maple Leaf Foods vs. 2028 Investment Grade
Performance |
| Timeline |
| Maple Leaf Foods |
| 2028 Investment Grade |
Maple Leaf and 2028 Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maple Leaf and 2028 Investment
The main advantage of trading using opposite Maple Leaf and 2028 Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maple Leaf position performs unexpectedly, 2028 Investment 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 2028 Investment will offset losses from the drop in 2028 Investment's long position.| Maple Leaf vs. Leons Furniture Limited | Maple Leaf vs. Autocanada | Maple Leaf vs. Exco Technologies Limited |
| 2028 Investment vs. Apple Inc CDR | 2028 Investment vs. NVIDIA CDR | 2028 Investment vs. Microsoft Corp CDR | 2028 Investment vs. Amazon CDR |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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