Correlation Between Queens Road and Aimia Pref
Can any of the company-specific risk be diversified away by investing in both Queens Road and Aimia Pref 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 Queens Road and Aimia Pref into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Queens Road Capital and Aimia Pref C, you can compare the effects of market volatilities on Queens Road and Aimia 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 Queens Road with a short position of Aimia Pref. Check out your portfolio center. Please also check ongoing floating volatility patterns of Queens Road and Aimia Pref.
Diversification Opportunities for Queens Road and Aimia Pref
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Queens and Aimia is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Queens Road Capital and Aimia Pref C in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aimia Pref C and Queens Road 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 Queens Road Capital are associated (or correlated) with Aimia Pref. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aimia Pref C has no effect on the direction of Queens Road i.e., Queens Road and Aimia Pref go up and down completely randomly.
Pair Corralation between Queens Road and Aimia Pref
Assuming the 90 days trading horizon Queens Road Capital is expected to generate 1.95 times more return on investment than Aimia Pref. However, Queens Road is 1.95 times more volatile than Aimia Pref C. It trades about 0.19 of its potential returns per unit of risk. Aimia Pref C is currently generating about 0.14 per unit of risk. If you would invest 701.00 in Queens Road Capital on August 14, 2025 and sell it today you would earn a total of 188.00 from holding Queens Road Capital or generate 26.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Queens Road Capital vs. Aimia Pref C
Performance |
| Timeline |
| Queens Road Capital |
| Aimia Pref C |
Queens Road and Aimia Pref Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Queens Road and Aimia Pref
The main advantage of trading using opposite Queens Road and Aimia Pref positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Queens Road position performs unexpectedly, Aimia 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 Aimia Pref will offset losses from the drop in Aimia Pref's long position.| Queens Road vs. North American Financial | Queens Road vs. Dividend Growth Split | Queens Road vs. Aimia Srs 1 | Queens Road vs. Life Banc Split |
| Aimia Pref vs. Life Banc Split | Aimia Pref vs. Canadian Banc Corp | Aimia Pref vs. North American Financial | Aimia Pref vs. Queens Road Capital |
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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
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