Correlation Between Catalyst Exceed and Cibc Atlas
Can any of the company-specific risk be diversified away by investing in both Catalyst Exceed and Cibc Atlas at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Catalyst Exceed and Cibc Atlas into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Catalyst Exceed Defined and Cibc Atlas International, you can compare the effects of market volatilities on Catalyst Exceed and Cibc Atlas 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 Catalyst Exceed with a short position of Cibc Atlas. Check out your portfolio center. Please also check ongoing floating volatility patterns of Catalyst Exceed and Cibc Atlas.
Diversification Opportunities for Catalyst Exceed and Cibc Atlas
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Catalyst and Cibc is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Catalyst Exceed Defined and Cibc Atlas International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cibc Atlas International and Catalyst Exceed 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 Catalyst Exceed Defined are associated (or correlated) with Cibc Atlas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cibc Atlas International has no effect on the direction of Catalyst Exceed i.e., Catalyst Exceed and Cibc Atlas go up and down completely randomly.
Pair Corralation between Catalyst Exceed and Cibc Atlas
Assuming the 90 days horizon Catalyst Exceed is expected to generate 1.17 times less return on investment than Cibc Atlas. In addition to that, Catalyst Exceed is 1.03 times more volatile than Cibc Atlas International. It trades about 0.05 of its total potential returns per unit of risk. Cibc Atlas International is currently generating about 0.06 per unit of volatility. If you would invest 1,193 in Cibc Atlas International on April 26, 2025 and sell it today you would earn a total of 371.00 from holding Cibc Atlas International or generate 31.1% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Catalyst Exceed Defined vs. Cibc Atlas International
Performance |
Timeline |
Catalyst Exceed Defined |
Cibc Atlas International |
Catalyst Exceed and Cibc Atlas Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Catalyst Exceed and Cibc Atlas
The main advantage of trading using opposite Catalyst Exceed and Cibc Atlas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Catalyst Exceed position performs unexpectedly, Cibc Atlas can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cibc Atlas will offset losses from the drop in Cibc Atlas' long position.Catalyst Exceed vs. Dreyfus Large Cap | Catalyst Exceed vs. Americafirst Large Cap | Catalyst Exceed vs. American Mutual Fund | Catalyst Exceed vs. Nuveen Large Cap |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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