Correlation Analysis Between Canadian Imperial and ISEQ

This module allows you to analyze existing cross correlation between Canadian Imperial Bank Of Comme and ISEQ. You can compare the effects of market volatilities on Canadian Imperial and ISEQ 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 ISEQ. See also your portfolio center. Please also check ongoing floating volatility patterns of Canadian Imperial and ISEQ.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

Canadian Imperial Bank Of Comm  vs.  ISEQ

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Canadian Imperial is expected to generate 1.41 times less return on investment than ISEQ. But when comparing it to its historical volatility, Canadian Imperial Bank Of Comme is 1.87 times less risky than ISEQ. It trades about 0.27 of its potential returns per unit of risk. ISEQ is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  576,833  in ISEQ on October 21, 2019 and sell it today you would earn a total of  112,079  from holding ISEQ or generate 19.43% return on investment over 30 days.

Pair Corralation between Canadian Imperial and ISEQ

0.92
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Canadian Imperial and ISEQ

Canadian Imperial Bank Of Comm diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Canadian Imperial Bank Of Comm and ISEQ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ISEQ 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 ISEQ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ISEQ has no effect on the direction of Canadian Imperial i.e. Canadian Imperial and ISEQ go up and down completely randomly.
    Optimize
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
Search macroaxis.com