Canadian Book Value Per Share from 2010 to 2024
| CM Stock | CAD 90.42 0.28 0.31% |
Check Canadian Imperial financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Canadian Imperial's main balance sheet or income statement drivers, such as , as well as many indicators such as . Canadian financial statements analysis is a perfect complement when working with Canadian Imperial Valuation or Volatility modules.
Canadian |
Pair Trading with Canadian Imperial
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canadian Imperial position performs unexpectedly, the other equity 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 Canadian Imperial will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
| 0.94 | RY | Royal Bank Earnings Call This Week | PairCorr |
| 0.84 | TD-PFI | Toronto Dominion Bank Earnings Call This Week | PairCorr |
| 0.65 | AMZN | Amazon CDR | PairCorr |
| 0.65 | BNS | Bank of Nova Scotia Earnings Call This Week | PairCorr |
Moving against Canadian Stock
| 0.66 | TD | Toronto Dominion Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Canadian Imperial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Imperial 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 Canadian Imperial - 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 Canadian Imperial Bank to buy it.
The correlation of Canadian Imperial 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Imperial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Imperial Bank moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canadian Imperial can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Canadian Imperial Correlation against competitors. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.