Correlation Analysis Between INTACT FINANCIAL and XU100

This module allows you to analyze existing cross correlation between INTACT FINANCIAL CORPORATION and XU100. You can compare the effects of market volatilities on INTACT FINANCIAL and XU100 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 INTACT FINANCIAL with a short position of XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of INTACT FINANCIAL and XU100.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

INTACT FINANCIAL CORPORATION  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, INTACT FINANCIAL CORPORATION is expected to generate 0.5 times more return on investment than XU100. However, INTACT FINANCIAL CORPORATION is 1.98 times less risky than XU100. It trades about 0.13 of its potential returns per unit of risk. XU100 is currently generating about 0.04 per unit of risk. If you would invest  12,414  in INTACT FINANCIAL CORPORATION on October 14, 2019 and sell it today you would earn a total of  1,089  from holding INTACT FINANCIAL CORPORATION or generate 8.77% return on investment over 30 days.

Pair Corralation between INTACT FINANCIAL and XU100

-0.73
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for INTACT FINANCIAL and XU100

INTACT FINANCIAL CORPORATION diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding INTACT FINANCIAL CORPORATION and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and INTACT FINANCIAL 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 INTACT FINANCIAL CORPORATION are associated (or correlated) with XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of INTACT FINANCIAL i.e. INTACT FINANCIAL and XU100 go up and down completely randomly.
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See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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