Correlation Between TD Q and CI Canadian
Can any of the company-specific risk be diversified away by investing in both TD Q and CI Canadian at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining TD Q and CI Canadian into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TD Q Global and CI Canadian REIT, you can compare the effects of market volatilities on TD Q and CI Canadian 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 TD Q with a short position of CI Canadian. Check out your portfolio center. Please also check ongoing floating volatility patterns of TD Q and CI Canadian.
Diversification Opportunities for TD Q and CI Canadian
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between TQGD and RIT is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding TD Q Global and CI Canadian REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Canadian REIT and TD Q 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 TD Q Global are associated (or correlated) with CI Canadian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Canadian REIT has no effect on the direction of TD Q i.e., TD Q and CI Canadian go up and down completely randomly.
Pair Corralation between TD Q and CI Canadian
Assuming the 90 days trading horizon TD Q Global is expected to generate 0.96 times more return on investment than CI Canadian. However, TD Q Global is 1.04 times less risky than CI Canadian. It trades about 0.17 of its potential returns per unit of risk. CI Canadian REIT is currently generating about 0.15 per unit of risk. If you would invest 2,237 in TD Q Global on November 18, 2025 and sell it today you would earn a total of 148.00 from holding TD Q Global or generate 6.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
TD Q Global vs. CI Canadian REIT
Performance |
| Timeline |
| TD Q Global |
| CI Canadian REIT |
TD Q and CI Canadian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TD Q and CI Canadian
The main advantage of trading using opposite TD Q and CI Canadian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TD Q position performs unexpectedly, CI Canadian 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 CI Canadian will offset losses from the drop in CI Canadian's long position.| TD Q vs. iShares Global Healthcare | TD Q vs. iShares Core MSCI | TD Q vs. TD Q Global | TD Q vs. NBI Global Private |
| CI Canadian vs. TD Q Global | CI Canadian vs. Fidelity Canadian High | CI Canadian vs. iShares Global Healthcare | CI Canadian vs. BMO Long Corporate |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |