Correlation Between First Trust and CI Preferred
The correlation profile for First Trust Senior and CI Preferred Share shows how their movements relate. The comparison reflects how diversifiable risk is distributed across the pair. The dataset reflects observed price behavior across time frames. The information is analytical in nature and is not intended as a specific recommendation.
This reference page shows whether First Trust Senior and CI Preferred Share provide true diversification or mostly duplicate risk. Understanding the linkage helps separate structural alignment from temporary co-movement. Go to your portfolio center
Diversification Opportunities for First Trust and CI Preferred
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between First and FPR is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Senior and CI Preferred Share in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Preferred Share and First Trust 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 First Trust Senior are associated (or correlated) with CI Preferred. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Preferred Share has no effect on the direction of First Trust i.e., First Trust and CI Preferred go up and down completely randomly.
Pair Corralation between First Trust and CI Preferred
Assuming the 90-day trading horizon First Trust Senior is expected to under-perform the CI Preferred. But the etf apears to be less risky and, when comparing its historical volatility, First Trust Senior is 1.36 times less risky than CI Preferred. The etf trades about -0.07 of its potential returns per unit of risk. The CI Preferred Share is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you had invested C$ 2,517 in CI Preferred Share on December 20, 2025 and sold it today you would have earned a total of C$ 62.00 from holding CI Preferred Share or generated 2.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
First Trust Senior vs. CI Preferred Share
Performance |
| Timeline |
| First Trust Senior |
Risk-Adjusted Performance
Weak
Weak | Strong |
| CI Preferred Share |
Risk-Adjusted Performance
Moderate
Weak | Strong |
First Trust and CI Preferred Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with First Trust and CI Preferred
Two-leg strategies using First Trust and CI Preferred matter because the combined position can be designed to be more market-neutral. This is most useful when the two securities share economic drivers but still create room for relative-performance divergence.| First Trust vs. Global X Active | First Trust vs. Hamilton Global Financials | First Trust vs. BMO MSCI USA | First Trust vs. Global X Marijuana |
| CI Preferred vs. CI Canadian Convertible | CI Preferred vs. Global X Active | CI Preferred vs. Guardian Directed Equity | CI Preferred vs. iShares Edge MSCI |
Go to your portfolio centerThe analysis presented here should support, not replace, the broader process of selecting and combining portfolio holdings. The practical goal is to improve the mix of assets already under consideration. You can also try the Portfolio Holdings module to check your current holdings and cash position to determine if your portfolio needs rebalancing.
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