Correlation Between Hamilton Enhanced and RBC Quant
Can any of the company-specific risk be diversified away by investing in both Hamilton Enhanced and RBC Quant 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 Hamilton Enhanced and RBC Quant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hamilton Enhanced Canadian and RBC Quant Dividend, you can compare the effects of market volatilities on Hamilton Enhanced and RBC Quant 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 Hamilton Enhanced with a short position of RBC Quant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hamilton Enhanced and RBC Quant.
Diversification Opportunities for Hamilton Enhanced and RBC Quant
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Hamilton and RBC is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Enhanced Canadian and RBC Quant Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC Quant Dividend and Hamilton Enhanced 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 Hamilton Enhanced Canadian are associated (or correlated) with RBC Quant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC Quant Dividend has no effect on the direction of Hamilton Enhanced i.e., Hamilton Enhanced and RBC Quant go up and down completely randomly.
Pair Corralation between Hamilton Enhanced and RBC Quant
Assuming the 90 days trading horizon Hamilton Enhanced Canadian is expected to generate 0.93 times more return on investment than RBC Quant. However, Hamilton Enhanced Canadian is 1.07 times less risky than RBC Quant. It trades about 0.17 of its potential returns per unit of risk. RBC Quant Dividend is currently generating about 0.02 per unit of risk. If you would invest 2,420 in Hamilton Enhanced Canadian on November 19, 2025 and sell it today you would earn a total of 210.00 from holding Hamilton Enhanced Canadian or generate 8.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hamilton Enhanced Canadian vs. RBC Quant Dividend
Performance |
| Timeline |
| Hamilton Enhanced |
| RBC Quant Dividend |
Hamilton Enhanced and RBC Quant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hamilton Enhanced and RBC Quant
The main advantage of trading using opposite Hamilton Enhanced and RBC Quant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hamilton Enhanced position performs unexpectedly, RBC Quant 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 Quant will offset losses from the drop in RBC Quant's long position.| Hamilton Enhanced vs. iShares ESG Advanced | Hamilton Enhanced vs. Global X Enhanced | Hamilton Enhanced vs. RBC Quant Canadian | Hamilton Enhanced vs. Global X Equal |
| RBC Quant vs. Desjardins RI Canada | RBC Quant vs. iShares ESG Advanced | RBC Quant vs. iShares Core MSCI | RBC Quant vs. TD Active Global |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |