Correlation Between Citigroup and Seraphim Space
Can any of the company-specific risk be diversified away by investing in both Citigroup and Seraphim Space 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 Seraphim Space into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Seraphim Space Investment, you can compare the effects of market volatilities on Citigroup and Seraphim Space 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 Seraphim Space. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Seraphim Space.
Diversification Opportunities for Citigroup and Seraphim Space
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Seraphim is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Seraphim Space Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seraphim Space Investment 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 Seraphim Space. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seraphim Space Investment has no effect on the direction of Citigroup i.e., Citigroup and Seraphim Space go up and down completely randomly.
Pair Corralation between Citigroup and Seraphim Space
If you would invest 0.00 in Citigroup on October 24, 2024 and sell it today you would earn a total of 0.00 from holding Citigroup or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.26% |
| Values | Daily Returns |
Citigroup vs. Seraphim Space Investment
Performance |
| Timeline |
| Citigroup |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| Seraphim Space Investment |
Citigroup and Seraphim Space Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Seraphim Space
The main advantage of trading using opposite Citigroup and Seraphim Space positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Seraphim Space 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 Seraphim Space will offset losses from the drop in Seraphim Space's long position.| Citigroup vs. Hilton Food Group | Citigroup vs. Ebro Foods | Citigroup vs. Air Products Chemicals | Citigroup vs. Applied Materials |
| Seraphim Space vs. Vitec Software Group | Seraphim Space vs. Xeros Technology Group | Seraphim Space vs. Verizon Communications | Seraphim Space vs. Gamma Communications PLC |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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