Correlation Between Dexterra and Citrine Global

Can any of the company-specific risk be diversified away by investing in both Dexterra and Citrine Global 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 Dexterra and Citrine Global into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Dexterra Group and Citrine Global Corp, you can compare the effects of market volatilities on Dexterra and Citrine Global 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 Dexterra with a short position of Citrine Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dexterra and Citrine Global.

Diversification Opportunities for Dexterra and Citrine Global

0.0

Correlation Coefficient

Dexterra  Citrine Global

Pay attention - limited upside

The 3 months correlation between Dexterra and Citrine is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Dexterra Group and Citrine Global Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citrine Global Corp and Dexterra 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 Dexterra Group are associated (or correlated) with Citrine Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citrine Global Corp has no effect on the direction of Dexterra i.e., Dexterra and Citrine Global go up and down completely randomly.

Pair Corralation between Dexterra and Citrine Global

If you would invest  614.00  in Dexterra Group on May 5, 2025 and sell it today you would earn a total of  82.00  from holding Dexterra Group or generate 13.36% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Dexterra Group  vs.  Citrine Global Corp

Dexterra Group

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Dexterra Group are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak basic indicators, Dexterra reported solid returns over the last few months and may actually be approaching a breakup point.

Citrine Global Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Citrine Global Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent technical and fundamental indicators, Citrine Global is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with Dexterra and Citrine Global

The main advantage of trading using opposite Dexterra and Citrine Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dexterra position performs unexpectedly, Citrine Global 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 Citrine Global will offset losses from the drop in Citrine Global's long position.

The idea behind Dexterra Group and Citrine Global Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.