Correlation Between SPTSX Dividend and Enbridge Pref
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By analyzing existing cross correlation between SPTSX Dividend Aristocrats and Enbridge Pref 11, you can compare the effects of market volatilities on SPTSX Dividend and Enbridge Pref 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 SPTSX Dividend with a short position of Enbridge Pref. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Dividend and Enbridge Pref.
Diversification Opportunities for SPTSX Dividend and Enbridge Pref
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SPTSX and Enbridge is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Dividend Aristocrats and Enbridge Pref 11 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Enbridge Pref 11 and SPTSX Dividend 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 SPTSX Dividend Aristocrats are associated (or correlated) with Enbridge Pref. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Enbridge Pref 11 has no effect on the direction of SPTSX Dividend i.e., SPTSX Dividend and Enbridge Pref go up and down completely randomly.
Pair Corralation between SPTSX Dividend and Enbridge Pref
Assuming the 90 days trading horizon SPTSX Dividend is expected to generate 1.34 times less return on investment than Enbridge Pref. In addition to that, SPTSX Dividend is 1.06 times more volatile than Enbridge Pref 11. It trades about 0.14 of its total potential returns per unit of risk. Enbridge Pref 11 is currently generating about 0.2 per unit of volatility. If you would invest 2,121 in Enbridge Pref 11 on August 11, 2025 and sell it today you would earn a total of 106.00 from holding Enbridge Pref 11 or generate 5.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SPTSX Dividend Aristocrats vs. Enbridge Pref 11
Performance |
| Timeline |
SPTSX Dividend and Enbridge Pref Volatility Contrast
Predicted Return Density |
| Returns |
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Enbridge Pref 11
Pair trading matchups for Enbridge Pref
Pair Trading with SPTSX Dividend and Enbridge Pref
The main advantage of trading using opposite SPTSX Dividend and Enbridge Pref positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPTSX Dividend position performs unexpectedly, Enbridge Pref 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 Enbridge Pref will offset losses from the drop in Enbridge Pref's long position.| SPTSX Dividend vs. Primaris Retail RE | SPTSX Dividend vs. Organto Foods Incorporated | SPTSX Dividend vs. Q2 Metals Corp | SPTSX Dividend vs. Talon Metals Corp |
| Enbridge Pref vs. Dream Office Real | Enbridge Pref vs. Leons Furniture Limited | Enbridge Pref vs. Quipt Home Medical | Enbridge Pref vs. Mayfair Acquisition |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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