BNS has been tightly correlated with CAD since July 2014. Specifically, the relationship appears to be:
(daily % change in BNS) = 2x(daily % change in CADUSD)
CAD itself is correlated with oil.
I originally planned to buy CAD for an upcoming oil rally. But I ended up buying BNS instead. It pays a 5% dividend.
(daily % change in BNS) = 2x(daily % change in CADUSD)
CAD itself is correlated with oil.
I originally planned to buy CAD for an upcoming oil rally. But I ended up buying BNS instead. It pays a 5% dividend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.