Correlation Between CI Gold and CI Black
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By analyzing existing cross correlation between CI Gold Bullion and CI Black Creek, you can compare the effects of market volatilities on CI Gold and CI Black 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 CI Gold with a short position of CI Black. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Gold and CI Black.
Diversification Opportunities for CI Gold and CI Black
Excellent diversification
The 3 months correlation between VALT-B and 0P0000752C is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding CI Gold Bullion and CI Black Creek in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Black Creek and CI Gold 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 CI Gold Bullion are associated (or correlated) with CI Black. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Black Creek has no effect on the direction of CI Gold i.e., CI Gold and CI Black go up and down completely randomly.
Pair Corralation between CI Gold and CI Black
Assuming the 90 days trading horizon CI Gold Bullion is expected to generate 1.42 times more return on investment than CI Black. However, CI Gold is 1.42 times more volatile than CI Black Creek. It trades about 0.35 of its potential returns per unit of risk. CI Black Creek is currently generating about 0.3 per unit of risk. If you would invest 3,804 in CI Gold Bullion on November 2, 2024 and sell it today you would earn a total of 197.00 from holding CI Gold Bullion or generate 5.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
CI Gold Bullion vs. CI Black Creek
Performance |
| Timeline |
| CI Gold Bullion |
| CI Black Creek |
CI Gold and CI Black Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Gold and CI Black
The main advantage of trading using opposite CI Gold and CI Black positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Gold position performs unexpectedly, CI Black 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 Black will offset losses from the drop in CI Black's long position.| CI Gold vs. RBC Select Balanced | CI Gold vs. PIMCO Monthly Income | CI Gold vs. RBC Portefeuille de | CI Gold vs. Edgepoint Global Portfolio |
| CI Black vs. Edgepoint Global Portfolio | CI Black vs. RBC Global Equity | CI Black vs. Invesco Global Companies | CI Black vs. Manulife Global Equity |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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