Correlation Between Citigroup and Citigroup
Can any of the company-specific risk be diversified away by investing in both Citigroup and Citigroup 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 Citigroup and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Citigroup, you can compare the effects of market volatilities on Citigroup 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 Citigroup with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Citigroup.
Diversification Opportunities for Citigroup and Citigroup
No risk reduction
The 3 months correlation between Citigroup and Citigroup is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup 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 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 Citigroup i.e., Citigroup and Citigroup go up and down completely randomly.
Pair Corralation between Citigroup and Citigroup
Taking into account the 90-day investment horizon If you would invest 5,886 in Citigroup on January 19, 2024 and sell it today you would lose (54.00) from holding Citigroup or give up 0.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Citigroup
Performance |
| Timeline |
| Citigroup |
| Citigroup |
Citigroup and Citigroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Citigroup
The main advantage of trading using opposite Citigroup and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Citigroup 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 Citigroup will offset losses from the drop in Citigroup's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
Check out your portfolio center.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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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