Correlation Between CI Gold and RBC Global
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By analyzing existing cross correlation between CI Gold Bullion and RBC Global Equity, you can compare the effects of market volatilities on CI Gold and RBC Global 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 RBC Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Gold and RBC Global.
Diversification Opportunities for CI Gold and RBC Global
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between VALT-B and RBC is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding CI Gold Bullion and RBC Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Global Equity 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 RBC Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Global Equity has no effect on the direction of CI Gold i.e., CI Gold and RBC Global go up and down completely randomly.
Pair Corralation between CI Gold and RBC Global
Assuming the 90 days trading horizon CI Gold Bullion is expected to generate 0.79 times more return on investment than RBC Global. However, CI Gold Bullion is 1.27 times less risky than RBC Global. It trades about 0.35 of its potential returns per unit of risk. RBC Global Equity is currently generating about 0.2 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. RBC Global Equity
Performance |
| Timeline |
| CI Gold Bullion |
| RBC Global Equity |
CI Gold and RBC Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Gold and RBC Global
The main advantage of trading using opposite CI Gold and RBC Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Gold position performs unexpectedly, RBC Global 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 RBC Global will offset losses from the drop in RBC Global'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 |
| RBC Global vs. Edgepoint Global Portfolio | RBC Global vs. Invesco Global Companies | RBC Global vs. Manulife Global Equity | RBC Global vs. CI Black Creek |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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