Correlation Between Mawer Canadian and RBC Select
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By analyzing existing cross correlation between Mawer Canadian Bond and RBC Select Balanced, you can compare the effects of market volatilities on Mawer Canadian and RBC Select 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 Mawer Canadian with a short position of RBC Select. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawer Canadian and RBC Select.
Diversification Opportunities for Mawer Canadian and RBC Select
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mawer and RBC is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Canadian Bond and RBC Select Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Select Balanced and Mawer Canadian 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 Mawer Canadian Bond are associated (or correlated) with RBC Select. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Select Balanced has no effect on the direction of Mawer Canadian i.e., Mawer Canadian and RBC Select go up and down completely randomly.
Pair Corralation between Mawer Canadian and RBC Select
Assuming the 90 days trading horizon Mawer Canadian Bond is expected to under-perform the RBC Select. But the fund apears to be less risky and, when comparing its historical volatility, Mawer Canadian Bond is 1.89 times less risky than RBC Select. The fund trades about -0.04 of its potential returns per unit of risk. The RBC Select Balanced is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 3,652 in RBC Select Balanced on September 10, 2025 and sell it today you would earn a total of 96.00 from holding RBC Select Balanced or generate 2.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mawer Canadian Bond vs. RBC Select Balanced
Performance |
| Timeline |
| Mawer Canadian Bond |
| RBC Select Balanced |
Mawer Canadian and RBC Select Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawer Canadian and RBC Select
The main advantage of trading using opposite Mawer Canadian and RBC Select positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawer Canadian position performs unexpectedly, RBC Select 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 RBC Select will offset losses from the drop in RBC Select's long position.| Mawer Canadian vs. Canoe Global Equity | Mawer Canadian vs. CI Select Global | Mawer Canadian vs. CI Global Unconstrained | Mawer Canadian vs. CI Global Alpha |
| RBC Select vs. RBC mondial dnergie | RBC Select vs. RBC dactions mondiales | RBC Select vs. RBC European Mid Cap | RBC Select vs. RBC QUBE Equity |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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