Correlation Analysis Between Best Buy and Citigroup

This module allows you to analyze existing cross correlation between Best Buy Co and Citigroup. You can compare the effects of market volatilities on Best Buy and Citigroup 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 Best Buy with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of Best Buy and Citigroup.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Best Buy Co Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Best Buy is expected to generate 1.21 times less return on investment than Citigroup. In addition to that, Best Buy is 1.93 times more volatile than Citigroup. It trades about 0.3 of its total potential returns per unit of risk. Citigroup is currently generating about 0.71 per unit of volatility. If you would invest  6,996  in Citigroup on April 21, 2018 and sell it today you would earn a total of  49.00  from holding Citigroup or generate 0.7% return on investment over 30 days.

Pair Corralation between Best Buy and Citigroup

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy9.09%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Best Buy Co  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.
Citigroup  
0 

Risk-Adjusted Performance

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1078.17

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