Correlation Between Colliers International and Trisura

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Colliers International and Trisura 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 Colliers International and Trisura into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Colliers International Group and Trisura Group, you can compare the effects of market volatilities on Colliers International and Trisura 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 Colliers International with a short position of Trisura. Check out your portfolio center. Please also check ongoing floating volatility patterns of Colliers International and Trisura.

Diversification Opportunities for Colliers International and Trisura

ColliersTrisuraDiversified AwayColliersTrisuraDiversified Away100%
0.46
  Correlation Coefficient

Very weak diversification

The 3 months correlation between Colliers and Trisura is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Colliers International Group and Trisura Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trisura Group and Colliers International 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 Colliers International Group are associated (or correlated) with Trisura. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trisura Group has no effect on the direction of Colliers International i.e., Colliers International and Trisura go up and down completely randomly.

Pair Corralation between Colliers International and Trisura

Assuming the 90 days trading horizon Colliers International Group is expected to generate 1.0 times more return on investment than Trisura. However, Colliers International is 1.0 times more volatile than Trisura Group. It trades about -0.05 of its potential returns per unit of risk. Trisura Group is currently generating about -0.08 per unit of risk. If you would invest  19,889  in Colliers International Group on November 20, 2024 and sell it today you would lose (1,323) from holding Colliers International Group or give up 6.65% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy98.39%
ValuesDaily Returns

Colliers International Group  vs.  Trisura Group

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -15-10-5051015
JavaScript chart by amCharts 3.21.15CIGI TSU
       Timeline  
Colliers International 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Colliers International Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Colliers International is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb185190195200205210215
Trisura Group 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Trisura Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's basic indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb323436384042

Colliers International and Trisura Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-3.04-2.29-1.55-0.8-0.05070.661.372.082.793.49 0.070.080.090.100.110.12
JavaScript chart by amCharts 3.21.15CIGI TSU
       Returns  

Pair Trading with Colliers International and Trisura

The main advantage of trading using opposite Colliers International and Trisura positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Colliers International position performs unexpectedly, Trisura 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 Trisura will offset losses from the drop in Trisura's long position.
The idea behind Colliers International Group and Trisura Group pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

Other Complementary Tools

Portfolio Analyzer
Portfolio analysis module that provides access to portfolio diagnostics and optimization engine
Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges
Portfolio Optimization
Compute new portfolio that will generate highest expected return given your specified tolerance for risk
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
Money Managers
Screen money managers from public funds and ETFs managed around the world