This module allows you to analyze existing cross correlation between Cimpress N V and SPTSX Comp. You can compare the effects of market volatilities on Cimpress N and SPTSX Comp 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 Cimpress N with a short position of SPTSX Comp. See also your portfolio center. Please also check ongoing floating volatility patterns of Cimpress N and SPTSX Comp.
|Horizon||30 Days Login to change|
Predicted Return Density
Cimpress N V vs. SPTSX Comp
Given the investment horizon of 30 days, Cimpress N V is expected to generate 4.36 times more return on investment than SPTSX Comp. However, Cimpress N is 4.36 times more volatile than SPTSX Comp. It trades about 0.19 of its potential returns per unit of risk. SPTSX Comp is currently generating about -0.06 per unit of risk. If you would invest 9,618 in Cimpress N V on July 24, 2019 and sell it today you would earn a total of 1,982 from holding Cimpress N V or generate 20.61% return on investment over 30 days.
Pair Corralation between Cimpress N and SPTSX Comp
|Time Period||2 Months [change]|
Diversification Opportunities for Cimpress N and SPTSX Comp
Overlapping area represents the amount of risk that can be diversified away by holding Cimpress N V and SPTSX Comp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SPTSX Comp and Cimpress N 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 Cimpress N V are associated (or correlated) with SPTSX Comp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPTSX Comp has no effect on the direction of Cimpress N i.e. Cimpress N and SPTSX Comp go up and down completely randomly.
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.