Correlation Between Citigroup and Corporacion Aceros
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By analyzing existing cross correlation between Citigroup and Corporacion Aceros Arequipa, you can compare the effects of market volatilities on Citigroup and Corporacion Aceros 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 Corporacion Aceros. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Corporacion Aceros.
Diversification Opportunities for Citigroup and Corporacion Aceros
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Corporacion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Corporacion Aceros Arequipa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corporacion Aceros 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 Corporacion Aceros. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corporacion Aceros has no effect on the direction of Citigroup i.e., Citigroup and Corporacion Aceros go up and down completely randomly.
Pair Corralation between Citigroup and Corporacion Aceros
If you would invest 6,150 in Citigroup on August 31, 2024 and sell it today you would earn a total of 821.00 from holding Citigroup or generate 13.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. Corporacion Aceros Arequipa
Performance |
| Timeline |
| Citigroup |
| Corporacion Aceros |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Corporacion Aceros Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Corporacion Aceros
The main advantage of trading using opposite Citigroup and Corporacion Aceros positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Corporacion Aceros 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 Corporacion Aceros will offset losses from the drop in Corporacion Aceros' long position.The idea behind Citigroup and Corporacion Aceros Arequipa 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.| Corporacion Aceros vs. Banco de Credito | Corporacion Aceros vs. InRetail Peru Corp | Corporacion Aceros vs. Southern Copper Corp |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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