Correlation Analysis Between Cimpress N and SPTSX Comp

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
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

Cimpress N V  vs.  SPTSX Comp

 Performance (%) 
      Timeline 

Pair Volatility

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

-0.73
Time Period2 Months [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cimpress N and SPTSX Comp

Cimpress N V diversification synergy

Pay attention

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.
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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.


 
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