Canadian Imperial Correlations

Stocks . USA . 
Stock . Canadian Imperial Bank
CM Stock  USD 64.76  0.08  0.12%   
The current 90-days correlation between Canadian Imperial Bank and Citigroup is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Imperial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Imperial Bank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Canadian Imperial Correlation With Market

Modest diversification

The correlation between Canadian Imperial Bank and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Imperial Bank and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Imperial Bank. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Canadian Stock

  0.74C Citigroup Aggressive PushPairCorr
  0.8RY Royal Bank Earnings Call This WeekPairCorr
  0.7BML-PG Bank of AmericaPairCorr
  0.74BML-PH Bank of AmericaPairCorr
  0.65BML-PJ Bank of AmericaPairCorr
  0.85BML-PL Bank of AmericaPairCorr
  0.84EWBC East West Bancorp Fiscal Year End 28th of January 2025 PairCorr
  0.8BAC Bank of America Aggressive PushPairCorr
  0.83BCS Barclays PLC ADR Aggressive PushPairCorr
  0.88BMO Bank of Montreal Earnings Call This WeekPairCorr
  0.84BNS Bank of Nova Scotia Earnings Call This WeekPairCorr
  0.71JPM JPMorgan Chase Sell-off TrendPairCorr
  0.72JPM-PC JPMorgan ChasePairCorr
  0.83NWG Natwest Group PLCPairCorr
  0.81WFC Wells Fargo Aggressive PushPairCorr
  0.72HSBC HSBC Holdings PLCPairCorr
  0.81BAC-PB Bank of AmericaPairCorr
  0.69BAC-PE Bank of AmericaPairCorr
  0.63BAC-PK Bank of AmericaPairCorr
  0.71MUFG Mitsubishi UFJ FinancialPairCorr

Moving against Canadian Stock

  0.77ING ING Group NVPairCorr
  0.59TD Toronto Dominion Bank Earnings Call This WeekPairCorr
  0.51JPM-PK JPMorgan ChasePairCorr
  0.41JPM-PJ JPMorgan ChasePairCorr
  0.57JPM-PM JPMorgan ChasePairCorr
  0.5JPM-PL JPMorgan ChasePairCorr
  0.5BAC-PQ Bank of AmericaPairCorr
  0.47BAC-PN Bank of AmericaPairCorr
  0.51BAC-PP Bank of AmericaPairCorr
  0.48WFC-PC Wells FargoPairCorr
  0.47WFC-PZ Wells FargoPairCorr
  0.47WFC-PA Wells FargoPairCorr
  0.46BAC-PO Bank of AmericaPairCorr
  0.4BBVA Banco Bilbao ViscayaPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BNS
+ 0.85
BMO
BMO
+ 0.8
C
HSBC
+ 0.78
C
BNS
+ 0.74
C
BNS
+ 0.74
HSBC
BMO
+ 0.73
HSBC
  
High negative correlations   
BNS
- 0.25
NU
HSBC
- 0.07
NU

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian Imperial Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Canadian Imperial's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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