Correlation Analysis Between Canadian Imperial and AEX Amsterdam

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

 Predicted Return Density 
      Returns 

Canadian Imperial Bank Of Comm  vs.  AEX Amsterdam

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Canadian Imperial is expected to generate 2.87 times less return on investment than AEX Amsterdam. But when comparing it to its historical volatility, Canadian Imperial Bank Of Comme is 12.88 times less risky than AEX Amsterdam. It trades about 0.28 of its potential returns per unit of risk. AEX Amsterdam is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  80,534  in AEX Amsterdam on October 16, 2019 and sell it today you would earn a total of  8,750  from holding AEX Amsterdam or generate 10.86% return on investment over 30 days.

Pair Corralation between Canadian Imperial and AEX Amsterdam

0.45
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Canadian Imperial and AEX Amsterdam

Canadian Imperial Bank Of Comm diversification synergy

Very weak diversification

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