Correlation Between Swiss Leader and CSIF I
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By analyzing existing cross correlation between Swiss Leader Price and CSIF I Bond, you can compare the effects of market volatilities on Swiss Leader 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 Swiss Leader with a short position of CSIF I. Check out your portfolio center. Please also check ongoing floating volatility patterns of Swiss Leader and CSIF I.
Diversification Opportunities for Swiss Leader and CSIF I
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Swiss and CSIF is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Swiss Leader Price 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 Swiss Leader 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 Swiss Leader Price 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 Swiss Leader i.e., Swiss Leader and CSIF I go up and down completely randomly.
Pair Corralation between Swiss Leader and CSIF I
Assuming the 90 days trading horizon Swiss Leader Price is expected to generate 2.08 times more return on investment than CSIF I. However, Swiss Leader is 2.08 times more volatile than CSIF I Bond. It trades about 0.03 of its potential returns per unit of risk. CSIF I Bond is currently generating about -0.01 per unit of risk. If you would invest 168,107 in Swiss Leader Price on September 24, 2024 and sell it today you would earn a total of 20,310 from holding Swiss Leader Price or generate 12.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.4% |
| Values | Daily Returns |
Swiss Leader Price vs. CSIF I Bond
Performance |
| Timeline |
Swiss Leader and CSIF I Volatility Contrast
Predicted Return Density |
| Returns |
Swiss Leader Price
Pair trading matchups for Swiss Leader
CSIF I Bond
Pair trading matchups for CSIF I
Pair Trading with Swiss Leader and CSIF I
The main advantage of trading using opposite Swiss Leader and CSIF I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Swiss Leader 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.| Swiss Leader vs. Berner Kantonalbank AG | Swiss Leader vs. Metall Zug AG | Swiss Leader vs. Adval Tech Holding | Swiss Leader vs. Cicor Technologies |
| 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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