CSIF I Correlations

0P0000G2P5

2,013 10.60 0.53%

The current 90-days correlation between CSIF I Real and CSIF III Eq is -0.03 (i.e., Good diversification). The correlation of CSIF I is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

CSIF I Correlation With Market

Good diversification

The correlation between CSIF I Real and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CSIF I Real and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CSIF I could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CSIF I when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CSIF I - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CSIF I Real to buy it.

Moving together with CSIF Fund

0.7	0P0001EDRM	CSIF III Eq	Pair Corr
0.64	0P0000YXR4	CSIF III Equity	Pair Corr
0.87	SREA	UBS Property	Pair Corr
0.94	0P0000KA0A	Synchrony Swiss Real	Pair Corr

Related Correlations Analysis

	0P0001EDRM	SREA	PSCF	BALN	WKBN	EQAC	GLUG	WOOD	IU0A	HKDU
0P0001EDRM		0.55	0.27	-0.66	-0.82	0.88	0.78	-0.51	0.66	-0.6	0P0001EDRM
SREA	0.55		0.63	-0.73	-0.75	0.68	0.27	-0.59	0.58	-0.42	SREA
PSCF	0.27	0.63		-0.26	-0.31	0.43	0.0	-0.14	0.65	-0.07	PSCF
BALN	-0.66	-0.73	-0.26		0.79	-0.78	-0.37	0.78	-0.48	0.7	BALN
WKBN	-0.82	-0.75	-0.31	0.79		-0.83	-0.6	0.69	-0.61	0.68	WKBN
EQAC	0.88	0.68	0.43	-0.78	-0.83		0.62	-0.66	0.66	-0.63	EQAC
GLUG	0.78	0.27	0.0	-0.37	-0.6	0.62		-0.12	0.5	-0.33	GLUG
WOOD	-0.51	-0.59	-0.14	0.78	0.69	-0.66	-0.12		-0.26	0.81	WOOD
IU0A	0.66	0.58	0.65	-0.48	-0.61	0.66	0.5	-0.26		-0.36	IU0A
HKDU	-0.6	-0.42	-0.07	0.7	0.68	-0.63	-0.33	0.81	-0.36		HKDU
	0P0001EDRM	SREA	PSCF	BALN	WKBN	EQAC	GLUG	WOOD	IU0A	HKDU

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EQAC	+ 0.88	0P0001EDRM
HKDU	+ 0.81	WOOD
WKBN	+ 0.79	BALN
GLUG	+ 0.78	0P0001EDRM
WOOD	+ 0.78	BALN
HKDU	+ 0.7	BALN

High negative correlations

EQAC	- 0.83	WKBN
WKBN	- 0.82	0P0001EDRM
EQAC	- 0.78	BALN
WKBN	- 0.75	SREA
BALN	- 0.73	SREA
WOOD	- 0.66	EQAC

Risk-Adjusted Indicators

There is a big difference between CSIF Fund performing well and CSIF I Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze CSIF I's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
0P0001EDRM	0.42	0.03	0.00	2.63	0.62	(0.44)	0.71	(0.79)	4.41
SREA	0.86	0.12	0.06	(0.28)	0.85	(1.21)	2.13	(1.45)	6.28
PSCF	0.71	0.08	0.04	(1.31)	0.70	(0.92)	1.61	(1.28)	3.87
BALN	0.52	(0.07)	0.00	(0.24)	0.00	0.00	1.02	(1.10)	4.77
WKBN	0.38	(0.03)	0.00	0.32	0.00	0.00	0.91	(0.88)	3.15
EQAC	0.62	0.09	0.06	0.38	0.91	(0.62)	1.31	(1.32)	5.30
GLUG	0.68	(0.02)	(0.04)	(0.01)	0.77	(0.90)	1.51	(1.09)	6.33
WOOD	0.79	(0.16)	0.00	(0.74)	0.00	0.00	1.47	(2.00)	5.09
IU0A	0.09	(0.01)	(0.15)	(0.86)	0.12	(0.23)	0.19	(0.37)	0.74
HKDU	1.28	0.00	(0.02)	0.03	1.77	(1.47)	3.09	(2.77)	14.06

CSIF I Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CSIF I fund to make a market-neutral strategy. Peer analysis of CSIF I could also be used in its relative valuation, which is a method of valuing CSIF I by comparing valuation metrics with similar companies.

CSIF III Eq UBS Property Procimmo Real Estate Baloise Holding AG Banque Cantonale du Invesco EQQQ NASDAQ 100 LG Clean Water iShares Global Timber iShares Corp Bond UBSFund Solutions MSCI American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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