CSIF I Correlations

0P0000I0NZ   987.47  5.72  0.58%   
The current 90-days correlation between CSIF I Equity and CSIF III Eq is 0.37 (i.e., Weak 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

Significant diversification

The correlation between CSIF I Equity and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CSIF I Equity 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 Equity to buy it.

Related Correlations Analysis

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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   
0P0000YXR60P0000YXR3
0P0001EDRM0P0001EDRL
0P0001EDRM0P0000YXR6
0P0001EDRM0P0000YXR3
0P0000G2P50P0001EDRL
0P0000YXR30P0001EDRL
  
High negative correlations   
0P0000ZGJ50P0000G2P5
0P0000I0NZ0P0001EDRL
0P0000I0NZ0P0000YXR3
0P0000I0NZ0P0000YXR6
0P0000I0NZ0P0001EDRM
0P0000ZGJ50P0001EDRL

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
0P0001EDRL  0.52  0.13  0.17 (0.85) 0.60 
 1.22 
 5.57 
0P0000YXR3  0.55  0.00  0.02 (0.02) 0.71 
 1.23 
 5.99 
0P0000YXR6  0.37  0.01  0.04 (0.08) 0.42 
 0.66 
 3.51 
0P0001EDRM  0.45  0.03  0.06 (0.23) 0.67 
 0.71 
 4.41 
0P0000G2P5  0.49  0.08  0.17 (2.10) 0.44 
 1.02 
 4.03 
0P0000ZGJ5  0.54 (0.06) 0.00  0.75  0.00 
 1.15 
 4.55 
0P0000I0NZ  0.62 (0.01) 0.00 (1.39) 0.00 
 1.37 
 3.89 
0P0000JLED  0.12 (0.03) 0.00  1.10  0.00 
 0.23 
 0.69 
SCM141  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 

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.
 Risk & Return  Correlation