Correlation Between RBC Select and CI Global
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By analyzing existing cross correlation between RBC Select Balanced and CI Global Unconstrained, you can compare the effects of market volatilities on RBC Select and CI 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 RBC Select with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of RBC Select and CI Global.
Diversification Opportunities for RBC Select and CI Global
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between RBC and CUBD is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding RBC Select Balanced and CI Global Unconstrained in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Global Unconstrained and RBC Select 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 RBC Select Balanced are associated (or correlated) with CI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Global Unconstrained has no effect on the direction of RBC Select i.e., RBC Select and CI Global go up and down completely randomly.
Pair Corralation between RBC Select and CI Global
Assuming the 90 days trading horizon RBC Select Balanced is expected to generate 1.48 times more return on investment than CI Global. However, RBC Select is 1.48 times more volatile than CI Global Unconstrained. It trades about 0.32 of its potential returns per unit of risk. CI Global Unconstrained is currently generating about 0.08 per unit of risk. If you would invest 3,321 in RBC Select Balanced on September 6, 2024 and sell it today you would earn a total of 226.00 from holding RBC Select Balanced or generate 6.81% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 98.41% |
Values | Daily Returns |
RBC Select Balanced vs. CI Global Unconstrained
Performance |
Timeline |
RBC Select Balanced |
CI Global Unconstrained |
RBC Select and CI Global Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with RBC Select and CI Global
The main advantage of trading using opposite RBC Select and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RBC Select position performs unexpectedly, CI 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 CI Global will offset losses from the drop in CI Global's long position.RBC Select vs. RBC dactions mondiales | RBC Select vs. RBC European Mid Cap | RBC Select vs. RBC sciences biologiques | RBC Select vs. RBC Dividend |
CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CI Global Alpha | CI Global 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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