Correlation Between Delta Galil and Citigroup
Can any of the company-specific risk be diversified away by investing in both Delta Galil 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 Delta Galil and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Delta Galil Industries and Citigroup, you can compare the effects of market volatilities on Delta Galil 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 Delta Galil with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Galil and Citigroup.
Diversification Opportunities for Delta Galil and Citigroup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Delta and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Delta Galil Industries and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Delta Galil 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 Delta Galil Industries 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 Delta Galil i.e., Delta Galil and Citigroup go up and down completely randomly.
Pair Corralation between Delta Galil and Citigroup
If you would invest 4,841 in Citigroup on January 24, 2024 and sell it today you would earn a total of 1,254 from holding Citigroup or generate 25.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Delta Galil Industries vs. Citigroup
Performance |
| Timeline |
| Delta Galil Industries |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Citigroup |
Delta Galil and Citigroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Galil and Citigroup
The main advantage of trading using opposite Delta Galil and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Galil 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.| Delta Galil vs. Western Digital | Delta Galil vs. China Aircraft Leasing | Delta Galil vs. Vestis | Delta Galil vs. Air Lease |
| 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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