Correlation Between Citigroup and Autus Prime
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By analyzing existing cross correlation between Citigroup and Autus Prime Balanced, you can compare the effects of market volatilities on Citigroup and Autus Prime 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 Autus Prime. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Autus Prime.
Diversification Opportunities for Citigroup and Autus Prime
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Citigroup and Autus is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Autus Prime Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autus Prime Balanced 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 Autus Prime. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autus Prime Balanced has no effect on the direction of Citigroup i.e., Citigroup and Autus Prime go up and down completely randomly.
Pair Corralation between Citigroup and Autus Prime
Taking into account the 90-day investment horizon Citigroup is expected to generate 4.12 times more return on investment than Autus Prime. However, Citigroup is 4.12 times more volatile than Autus Prime Balanced. It trades about 0.08 of its potential returns per unit of risk. Autus Prime Balanced is currently generating about 0.11 per unit of risk. If you would invest 4,091 in Citigroup on September 14, 2024 and sell it today you would earn a total of 3,029 from holding Citigroup or generate 74.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.59% |
| Values | Daily Returns |
Citigroup vs. Autus Prime Balanced
Performance |
| Timeline |
| Citigroup |
| Autus Prime Balanced |
Citigroup and Autus Prime Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Autus Prime
The main advantage of trading using opposite Citigroup and Autus Prime positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Autus Prime 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 Autus Prime will offset losses from the drop in Autus Prime's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Autus Prime vs. NewFunds Low Volatility | Autus Prime vs. Sasol Ltd Bee | Autus Prime vs. Centaur Bci Balanced | Autus Prime vs. Coronation Global Equity |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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