Correlation Between Edgepoint Global and CI Global
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By analyzing existing cross correlation between Edgepoint Global Portfolio and CI Global Unconstrained, you can compare the effects of market volatilities on Edgepoint Global 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 Edgepoint Global with a short position of CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Edgepoint Global and CI Global.
Diversification Opportunities for Edgepoint Global and CI Global
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Edgepoint and CUBD is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Global Portfolio 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 Edgepoint Global 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 Edgepoint Global Portfolio 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 Edgepoint Global i.e., Edgepoint Global and CI Global go up and down completely randomly.
Pair Corralation between Edgepoint Global and CI Global
Assuming the 90 days trading horizon Edgepoint Global Portfolio is expected to generate 2.71 times more return on investment than CI Global. However, Edgepoint Global is 2.71 times more volatile than CI Global Unconstrained. It trades about 0.22 of its potential returns per unit of risk. CI Global Unconstrained is currently generating about 0.09 per unit of risk. If you would invest 3,599 in Edgepoint Global Portfolio on September 9, 2024 and sell it today you would earn a total of 316.00 from holding Edgepoint Global Portfolio or generate 8.78% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 98.46% |
Values | Daily Returns |
Edgepoint Global Portfolio vs. CI Global Unconstrained
Performance |
Timeline |
Edgepoint Global Por |
CI Global Unconstrained |
Edgepoint Global and CI Global Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Edgepoint Global and CI Global
The main advantage of trading using opposite Edgepoint Global and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Edgepoint Global 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.Edgepoint Global vs. Edgepoint Canadian Portfolio | Edgepoint Global vs. Edgepoint Global Portfolio | Edgepoint Global vs. Fidelity Tactical High | Edgepoint Global vs. Fidelity ClearPath 2045 |
CI Global vs. Fidelity Tactical High | CI Global vs. Bloom Select Income | CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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