Correlation Between Siit High and Credit Suisse
Can any of the company-specific risk be diversified away by investing in both Siit High and Credit Suisse 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 Siit High and Credit Suisse into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siit High Yield and Credit Suisse Floating, you can compare the effects of market volatilities on Siit High and Credit Suisse 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 Siit High with a short position of Credit Suisse. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siit High and Credit Suisse.
Diversification Opportunities for Siit High and Credit Suisse
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Siit and Credit is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Siit High Yield and Credit Suisse Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Credit Suisse Floating and Siit High 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 Siit High Yield are associated (or correlated) with Credit Suisse. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Credit Suisse Floating has no effect on the direction of Siit High i.e., Siit High and Credit Suisse go up and down completely randomly.
Pair Corralation between Siit High and Credit Suisse
Assuming the 90 days horizon Siit High Yield is expected to generate 1.39 times more return on investment than Credit Suisse. However, Siit High is 1.39 times more volatile than Credit Suisse Floating. It trades about 0.42 of its potential returns per unit of risk. Credit Suisse Floating is currently generating about 0.36 per unit of risk. If you would invest 675.00 in Siit High Yield on April 11, 2025 and sell it today you would earn a total of 38.00 from holding Siit High Yield or generate 5.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Siit High Yield vs. Credit Suisse Floating
Performance |
| Timeline |
| Siit High Yield |
| Credit Suisse Floating |
Siit High and Credit Suisse Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siit High and Credit Suisse
The main advantage of trading using opposite Siit High and Credit Suisse positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siit High position performs unexpectedly, Credit Suisse 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 Credit Suisse will offset losses from the drop in Credit Suisse's long position.| Siit High vs. Qs Defensive Growth | Siit High vs. Old Westbury Small | Siit High vs. Aqr Small Cap | Siit High vs. Omni Small Cap Value |
| Credit Suisse vs. Ep Emerging Markets | Credit Suisse vs. Siit Extended Market | Credit Suisse vs. Nuveen Equity Longshort | Credit Suisse vs. Ab All Market |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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