Correlation Analysis Between DOW and Canadian Imperial

This module allows you to analyze existing cross correlation between DOW and Canadian Imperial Bank of Commerce. You can compare the effects of market volatilities on DOW and Canadian Imperial 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 DOW with a short position of Canadian Imperial. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and Canadian Imperial.
 Time Horizon     30 Days    Login   to change
Symbolsvs

DOW  vs.  Canadian Imperial Bank of Comm

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  8,858  in Canadian Imperial Bank of Commerce on May 24, 2018 and sell it today you would lose (72.00)  from holding Canadian Imperial Bank of Commerce or give up 0.81% of portfolio value over 30 days.

Pair Corralation between DOW and Canadian Imperial

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.18%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding DOW and Canadian Imperial Bank of Comm in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Canadian Imperial Bank and DOW 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 DOW are associated (or correlated) with Canadian Imperial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Canadian Imperial Bank has no effect on the direction of DOW i.e. DOW and Canadian Imperial go up and down completely randomly.
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Comparative Volatility

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