Correlation Between Cogeco Communications and Titanium Transportation
Can any of the company-specific risk be diversified away by investing in both Cogeco Communications and Titanium Transportation 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 Cogeco Communications and Titanium Transportation into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cogeco Communications and Titanium Transportation Group, you can compare the effects of market volatilities on Cogeco Communications and Titanium Transportation 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 Cogeco Communications with a short position of Titanium Transportation. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cogeco Communications and Titanium Transportation.
Diversification Opportunities for Cogeco Communications and Titanium Transportation
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cogeco and Titanium is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Cogeco Communications and Titanium Transportation Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Titanium Transportation and Cogeco Communications 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 Cogeco Communications are associated (or correlated) with Titanium Transportation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Titanium Transportation has no effect on the direction of Cogeco Communications i.e., Cogeco Communications and Titanium Transportation go up and down completely randomly.
Pair Corralation between Cogeco Communications and Titanium Transportation
Assuming the 90 days trading horizon Cogeco Communications is expected to generate 0.7 times more return on investment than Titanium Transportation. However, Cogeco Communications is 1.43 times less risky than Titanium Transportation. It trades about 0.07 of its potential returns per unit of risk. Titanium Transportation Group is currently generating about -0.09 per unit of risk. If you would invest 6,330 in Cogeco Communications on August 29, 2025 and sell it today you would earn a total of 394.00 from holding Cogeco Communications or generate 6.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cogeco Communications vs. Titanium Transportation Group
Performance |
| Timeline |
| Cogeco Communications |
| Titanium Transportation |
Cogeco Communications and Titanium Transportation Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cogeco Communications and Titanium Transportation
The main advantage of trading using opposite Cogeco Communications and Titanium Transportation positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cogeco Communications position performs unexpectedly, Titanium Transportation 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 Titanium Transportation will offset losses from the drop in Titanium Transportation's long position.| Cogeco Communications vs. Data Communications Management | Cogeco Communications vs. Uniserve Communications Corp | Cogeco Communications vs. Queens Road Capital | Cogeco Communications vs. InPlay Oil Corp |
| Titanium Transportation vs. Northstar Clean Technologies | Titanium Transportation vs. MTY Food Group | Titanium Transportation vs. CHAR Technologies | Titanium Transportation vs. Broadcom CDR |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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