Correlation Between Citigroup and CTBC 15
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By analyzing existing cross correlation between Citigroup and CTBC 15 Developed, you can compare the effects of market volatilities on Citigroup and CTBC 15 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 CTBC 15. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and CTBC 15.
Diversification Opportunities for Citigroup and CTBC 15
Very good diversification
The 3 months correlation between Citigroup and CTBC is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and CTBC 15 Developed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CTBC 15 Developed 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 CTBC 15. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CTBC 15 Developed has no effect on the direction of Citigroup i.e., Citigroup and CTBC 15 go up and down completely randomly.
Pair Corralation between Citigroup and CTBC 15
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.44 times more return on investment than CTBC 15. However, Citigroup is 2.44 times more volatile than CTBC 15 Developed. It trades about 0.07 of its potential returns per unit of risk. CTBC 15 Developed is currently generating about 0.01 per unit of risk. If you would invest 4,293 in Citigroup on September 3, 2024 and sell it today you would earn a total of 2,794 from holding Citigroup or generate 65.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 96.97% |
| Values | Daily Returns |
Citigroup vs. CTBC 15 Developed
Performance |
| Timeline |
| Citigroup |
| CTBC 15 Developed |
Citigroup and CTBC 15 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and CTBC 15
The main advantage of trading using opposite Citigroup and CTBC 15 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, CTBC 15 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 CTBC 15 will offset losses from the drop in CTBC 15's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| CTBC 15 vs. CTBC USD Corporate | CTBC 15 vs. CTBC 20 Year | CTBC 15 vs. CTBC TIP Customized | CTBC 15 vs. CTBC Treasury 20 |
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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