Correlation Between Canso Credit and SPTSX Dividend
Specify exactly 2 symbols:
By analyzing existing cross correlation between Canso Credit Trust and SPTSX Dividend Aristocrats, you can compare the effects of market volatilities on Canso Credit 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 Canso Credit with a short position of SPTSX Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of Canso Credit and SPTSX Dividend.
Diversification Opportunities for Canso Credit and SPTSX Dividend
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Canso and SPTSX is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Canso Credit Trust 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 Canso Credit 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 Canso Credit Trust 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 Canso Credit i.e., Canso Credit and SPTSX Dividend go up and down completely randomly.
Pair Corralation between Canso Credit and SPTSX Dividend
Assuming the 90 days trading horizon Canso Credit Trust is expected to generate 0.87 times more return on investment than SPTSX Dividend. However, Canso Credit Trust is 1.15 times less risky than SPTSX Dividend. It trades about 0.09 of its potential returns per unit of risk. SPTSX Dividend Aristocrats is currently generating about -0.02 per unit of risk. If you would invest 1,589 in Canso Credit Trust on October 25, 2024 and sell it today you would earn a total of 11.00 from holding Canso Credit Trust or generate 0.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Canso Credit Trust vs. SPTSX Dividend Aristocrats
Performance |
| Timeline |
Canso Credit and SPTSX Dividend Volatility Contrast
Predicted Return Density |
| Returns |
Canso Credit Trust
Pair trading matchups for Canso Credit
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Pair Trading with Canso Credit and SPTSX Dividend
The main advantage of trading using opposite Canso Credit and SPTSX Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Canso Credit 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.| Canso Credit vs. MINT Income Fund | Canso Credit vs. Canadian High Income | Canso Credit vs. Blue Ribbon Income | Canso Credit vs. Australian REIT Income |
| SPTSX Dividend vs. Canso Credit Trust | SPTSX Dividend vs. NextSource Materials | SPTSX Dividend vs. Overactive Media Corp | SPTSX Dividend vs. Diamond Estates Wines |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |