Correlation Between Citigroup and G Collado
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By analyzing existing cross correlation between Citigroup and G Collado SAB, you can compare the effects of market volatilities on Citigroup and G Collado 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 G Collado. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and G Collado.
Diversification Opportunities for Citigroup and G Collado
Very poor diversification
The 3 months correlation between Citigroup and COLLADO is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and G Collado SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G Collado SAB 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 G Collado. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G Collado SAB has no effect on the direction of Citigroup i.e., Citigroup and G Collado go up and down completely randomly.
Pair Corralation between Citigroup and G Collado
Given the investment horizon of 90 days Citigroup is expected to generate 8.11 times more return on investment than G Collado. However, Citigroup is 8.11 times more volatile than G Collado SAB. It trades about 0.08 of its potential returns per unit of risk. G Collado SAB is currently generating about 0.0 per unit of risk. If you would invest 78,076 in Citigroup on September 12, 2024 and sell it today you would earn a total of 68,087 from holding Citigroup or generate 87.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. G Collado SAB
Performance |
| Timeline |
| Citigroup |
| G Collado SAB |
Citigroup and G Collado Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and G Collado
The main advantage of trading using opposite Citigroup and G Collado positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, G Collado 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 G Collado will offset losses from the drop in G Collado's long position.| Citigroup vs. Grupo Sports World | Citigroup vs. First Majestic Silver | Citigroup vs. Grupo Hotelero Santa | Citigroup vs. Cognizant Technology Solutions |
| G Collado vs. Grupo Hotelero Santa | G Collado vs. Cognizant Technology Solutions | G Collado vs. Micron Technology | G Collado vs. CVS Health |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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