Correlation Analysis Between Citigroup and American Airlines

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

Citigroup  
26

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.
American Airlines  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Airlines Group are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Citigroup and American Airlines Volatility Contrast

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  American Airlines Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 0.55 times more return on investment than American Airlines. However, Citigroup is 1.82 times less risky than American Airlines. It trades about 0.39 of its potential returns per unit of risk. American Airlines Group is currently generating about 0.17 per unit of risk. If you would invest  4,828  in Citigroup on January 24, 2019 and sell it today you would earn a total of  1,586  from holding Citigroup or generate 32.85% return on investment over 30 days.

Pair Corralation between Citigroup and American Airlines

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Citigroup and American Airlines

Citigroup Inc diversification synergy

Very poor diversification

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

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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