Correlation Between CI Gold and IShares MSCI
Can any of the company-specific risk be diversified away by investing in both CI Gold and IShares MSCI 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 CI Gold and IShares MSCI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CI Gold Giants and iShares MSCI Min, you can compare the effects of market volatilities on CI Gold and IShares MSCI 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 CI Gold with a short position of IShares MSCI. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Gold and IShares MSCI.
Diversification Opportunities for CI Gold and IShares MSCI
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CGXF and IShares is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding CI Gold Giants and iShares MSCI Min in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares MSCI Min and CI Gold 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 CI Gold Giants are associated (or correlated) with IShares MSCI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares MSCI Min has no effect on the direction of CI Gold i.e., CI Gold and IShares MSCI go up and down completely randomly.
Pair Corralation between CI Gold and IShares MSCI
Assuming the 90 days trading horizon CI Gold Giants is expected to generate 3.37 times more return on investment than IShares MSCI. However, CI Gold is 3.37 times more volatile than iShares MSCI Min. It trades about 0.09 of its potential returns per unit of risk. iShares MSCI Min is currently generating about -0.1 per unit of risk. If you would invest 1,850 in CI Gold Giants on September 10, 2025 and sell it today you would earn a total of 73.00 from holding CI Gold Giants or generate 3.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI Gold Giants vs. iShares MSCI Min
Performance |
| Timeline |
| CI Gold Giants |
| iShares MSCI Min |
CI Gold and IShares MSCI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Gold and IShares MSCI
The main advantage of trading using opposite CI Gold and IShares MSCI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Gold position performs unexpectedly, IShares MSCI 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 IShares MSCI will offset losses from the drop in IShares MSCI's long position.| CI Gold vs. iShares ESG Balanced | CI Gold vs. Global X Seasonal | CI Gold vs. Evolve SP 500 | CI Gold vs. iShares High Dividend |
| IShares MSCI vs. Invesco RAFI Canadian | IShares MSCI vs. iShares MSCI Min | IShares MSCI vs. iShares ESG Equity | IShares MSCI vs. iShares High Dividend |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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