Correlation Between Asure Software and CITIGROUP
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By analyzing existing cross correlation between Asure Software and CITIGROUP INC 6625, you can compare the effects of market volatilities on Asure Software 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 Asure Software with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asure Software and CITIGROUP.
Diversification Opportunities for Asure Software and CITIGROUP
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Asure and CITIGROUP is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Asure Software and CITIGROUP INC 6625 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 6625 and Asure Software 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 Asure Software 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 INC 6625 has no effect on the direction of Asure Software i.e., Asure Software and CITIGROUP go up and down completely randomly.
Pair Corralation between Asure Software and CITIGROUP
Given the investment horizon of 90 days Asure Software is expected to generate 8.25 times more return on investment than CITIGROUP. However, Asure Software is 8.25 times more volatile than CITIGROUP INC 6625. It trades about 0.01 of its potential returns per unit of risk. CITIGROUP INC 6625 is currently generating about -0.04 per unit of risk. If you would invest 992.00 in Asure Software on September 1, 2024 and sell it today you would lose (13.00) from holding Asure Software or give up 1.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asure Software vs. CITIGROUP INC 6625
Performance |
| Timeline |
| Asure Software |
| CITIGROUP INC 6625 |
Asure Software and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asure Software and CITIGROUP
The main advantage of trading using opposite Asure Software and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asure Software 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.| Asure Software vs. Alkami Technology | Asure Software vs. Blackbaud | Asure Software vs. Enfusion | Asure Software vs. Clearwater Analytics Holdings |
| CITIGROUP vs. Ryman Hospitality Properties | CITIGROUP vs. Sweetgreen | CITIGROUP vs. Asure Software | CITIGROUP vs. Amkor Technology |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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