Correlation Between Citigroup and Cydsa SAB
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By analyzing existing cross correlation between Citigroup and Cydsa SAB de, you can compare the effects of market volatilities on Citigroup and Cydsa SAB 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 Cydsa SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Cydsa SAB.
Diversification Opportunities for Citigroup and Cydsa SAB
Weak diversification
The 3 months correlation between Citigroup and Cydsa is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Cydsa SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cydsa SAB de 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 Cydsa SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cydsa SAB de has no effect on the direction of Citigroup i.e., Citigroup and Cydsa SAB go up and down completely randomly.
Pair Corralation between Citigroup and Cydsa SAB
Given the investment horizon of 90 days Citigroup is expected to generate 1.28 times more return on investment than Cydsa SAB. However, Citigroup is 1.28 times more volatile than Cydsa SAB de. It trades about 0.07 of its potential returns per unit of risk. Cydsa SAB de is currently generating about 0.04 per unit of risk. If you would invest 82,961 in Citigroup on September 4, 2024 and sell it today you would earn a total of 62,227 from holding Citigroup or generate 75.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Citigroup vs. Cydsa SAB de
Performance |
| Timeline |
| Citigroup |
| Cydsa SAB de |
Citigroup and Cydsa SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Cydsa SAB
The main advantage of trading using opposite Citigroup and Cydsa SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Cydsa SAB 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 Cydsa SAB will offset losses from the drop in Cydsa SAB's long position.| Citigroup vs. Capital One Financial | Citigroup vs. Ameriprise Financial | Citigroup vs. Deutsche Bank Aktiengesellschaft | Citigroup vs. New Oriental Education |
| Cydsa SAB vs. Prudential Financial | Cydsa SAB vs. Deutsche Bank Aktiengesellschaft | Cydsa SAB vs. Grupo Hotelero Santa | Cydsa SAB vs. Hoteles City Express |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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