This module allows you to analyze existing cross correlation between Sprint Corporation and Citigroup. You can compare the effects of market volatilities on Sprint 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 Sprint with a short position of Citigroup. See also your portfolio center
. Please also check ongoing floating volatility patterns of Sprint
Compared to the overall equity markets, risk-adjusted returns on investments in Sprint Corporation are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.
Sprint and Citigroup Volatility Contrast
Sprint Corp. vs. Citigroup Inc
Taking into account the 30 trading days horizon, Sprint is expected to generate 1.82 times less return on investment than Citigroup. In addition to that, Sprint is 1.21 times more volatile than Citigroup. It trades about 0.16 of its total potential returns per unit of risk. Citigroup is currently generating about 0.35 per unit of volatility. If you would invest 4,926 in Citigroup on January 23, 2019 and sell it today you would earn a total of 1,492 from holding Citigroup or generate 30.29% return on investment over 30 days.
Pair Corralation between Sprint and Citigroup
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Diversification Opportunities for Sprint and Citigroup
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Sprint Corp. and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Sprint 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 Sprint Corporation 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 Sprint i.e. Sprint and Citigroup go up and down completely randomly.