Correlation Between Procimmo Real and CSIF I
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By analyzing existing cross correlation between Procimmo Real Estate and CSIF I Bond, you can compare the effects of market volatilities on Procimmo Real 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 Procimmo Real with a short position of CSIF I. Check out your portfolio center. Please also check ongoing floating volatility patterns of Procimmo Real and CSIF I.
Diversification Opportunities for Procimmo Real and CSIF I
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Procimmo and CSIF is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Procimmo Real Estate 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 Procimmo Real 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 Procimmo Real Estate 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 Procimmo Real i.e., Procimmo Real and CSIF I go up and down completely randomly.
Pair Corralation between Procimmo Real and CSIF I
Assuming the 90 days trading horizon Procimmo Real Estate is expected to under-perform the CSIF I. In addition to that, Procimmo Real is 3.88 times more volatile than CSIF I Bond. It trades about -0.19 of its total potential returns per unit of risk. CSIF I Bond is currently generating about 0.17 per unit of volatility. If you would invest 67,079 in CSIF I Bond on November 7, 2024 and sell it today you would earn a total of 443.00 from holding CSIF I Bond or generate 0.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.45% |
| Values | Daily Returns |
Procimmo Real Estate vs. CSIF I Bond
Performance |
| Timeline |
| Procimmo Real Estate |
| CSIF I Bond |
Procimmo Real and CSIF I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Procimmo Real and CSIF I
The main advantage of trading using opposite Procimmo Real and CSIF I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Procimmo Real 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.| Procimmo Real vs. SPDR Dow Jones | Procimmo Real vs. Baloise Holding AG | Procimmo Real vs. Autoneum Holding AG | Procimmo Real vs. SPDR FTSE UK |
| CSIF I vs. SPDR Dow Jones | CSIF I vs. Baloise Holding AG | CSIF I vs. Autoneum Holding AG | CSIF I vs. SPDR FTSE UK |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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