Correlation Between CI Global and Russell Investments

Can any of the company-specific risk be diversified away by investing in both CI Global and Russell Investments 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 CI Global and Russell Investments into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between CI Global Infrastructure and Russell Investments Global, you can compare the effects of market volatilities on CI Global and Russell Investments 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 CI Global with a short position of Russell Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Global and Russell Investments.

Diversification Opportunities for CI Global and Russell Investments

0.87

Correlation Coefficient

CI Global  Russell Investments

Very poor diversification

The 3 months correlation between CINF and Russell is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding CI Global Infrastructure and Russell Investments Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Russell Investments and CI Global 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 CI Global Infrastructure are associated (or correlated) with Russell Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Russell Investments has no effect on the direction of CI Global i.e., CI Global and Russell Investments go up and down completely randomly.

Pair Corralation between CI Global and Russell Investments

Assuming the 90 days trading horizon CI Global Infrastructure is expected to generate 0.66 times more return on investment than Russell Investments. However, CI Global Infrastructure is 1.52 times less risky than Russell Investments. It trades about 0.26 of its potential returns per unit of risk. Russell Investments Global is currently generating about 0.15 per unit of risk. If you would invest  2,746  in CI Global Infrastructure on April 22, 2025 and sell it today you would earn a total of  182.00  from holding CI Global Infrastructure or generate 6.63% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Strong
Accuracy	100.0%
Values	Daily Returns

CI Global Infrastructure  vs.  Russell Investments Global

CI Global Infrastructure

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in CI Global Infrastructure are ranked lower than 20 (%) of all global equities and portfolios over the last 90 days. In spite of very unfluctuating basic indicators, CI Global may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Russell Investments

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Russell Investments Global are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy basic indicators, Russell Investments is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with CI Global and Russell Investments

The main advantage of trading using opposite CI Global and Russell Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Global position performs unexpectedly, Russell Investments 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 Russell Investments will offset losses from the drop in Russell Investments' long position.

The idea behind CI Global Infrastructure and Russell Investments Global 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.

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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.