Correlation Between Integrity Dividend and Columbia Global

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

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

Diversification Opportunities for Integrity Dividend and Columbia Global

0.81

Correlation Coefficient

Integrity Dividend  Columbia Global

Very poor diversification

The 3 months correlation between Integrity and Columbia is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Integrity Dividend Harvest and Columbia Global Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Columbia Global Dividend and Integrity Dividend 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 Integrity Dividend Harvest are associated (or correlated) with Columbia Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Columbia Global Dividend has no effect on the direction of Integrity Dividend i.e., Integrity Dividend and Columbia Global go up and down completely randomly.

Pair Corralation between Integrity Dividend and Columbia Global

Assuming the 90 days horizon Integrity Dividend is expected to generate 1.03 times less return on investment than Columbia Global. In addition to that, Integrity Dividend is 1.04 times more volatile than Columbia Global Dividend. It trades about 0.09 of its total potential returns per unit of risk. Columbia Global Dividend is currently generating about 0.09 per unit of volatility. If you would invest  1,860  in Columbia Global Dividend on September 12, 2025 and sell it today you would earn a total of  437.00  from holding Columbia Global Dividend or generate 23.49% return on investment over 90 days.

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

Integrity Dividend Harvest  vs.  Columbia Global Dividend

Integrity Dividend

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Integrity Dividend Harvest are ranked lower than 7 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, Integrity Dividend is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Columbia Global Dividend

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Columbia Global Dividend are ranked lower than 7 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, Columbia Global is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Integrity Dividend and Columbia Global

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

The idea behind Integrity Dividend Harvest and Columbia Global Dividend 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.