Correlation Between Boeing and CITIGROUP
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By analyzing existing cross correlation between The Boeing and CITIGROUP INC 6875, you can compare the effects of market volatilities on Boeing 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 Boeing with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boeing and CITIGROUP.
Diversification Opportunities for Boeing and CITIGROUP
Very good diversification
The 3 months correlation between Boeing and CITIGROUP is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding The Boeing and CITIGROUP INC 6875 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 6875 and Boeing 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 The Boeing 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 6875 has no effect on the direction of Boeing i.e., Boeing and CITIGROUP go up and down completely randomly.
Pair Corralation between Boeing and CITIGROUP
Allowing for the 90-day total investment horizon The Boeing is expected to generate 1.35 times more return on investment than CITIGROUP. However, Boeing is 1.35 times more volatile than CITIGROUP INC 6875. It trades about 0.15 of its potential returns per unit of risk. CITIGROUP INC 6875 is currently generating about 0.04 per unit of risk. If you would invest 17,187 in The Boeing on November 2, 2024 and sell it today you would earn a total of 766.00 from holding The Boeing or generate 4.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Boeing vs. CITIGROUP INC 6875
Performance |
| Timeline |
| Boeing |
| CITIGROUP INC 6875 |
Boeing and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boeing and CITIGROUP
The main advantage of trading using opposite Boeing and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boeing 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.| Boeing vs. Sidus Space | Boeing vs. Planet Labs PBC | Boeing vs. Intuitive Machines | Boeing vs. Rocket Lab USA |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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