Correlation Between Citigroup and IE00B0H4TS55
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and IE00B0H4TS55, you can compare the effects of market volatilities on Citigroup and IE00B0H4TS55 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 IE00B0H4TS55. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and IE00B0H4TS55.
Diversification Opportunities for Citigroup and IE00B0H4TS55
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and IE00B0H4TS55 is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and IE00B0H4TS55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IE00B0H4TS55 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 IE00B0H4TS55. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IE00B0H4TS55 has no effect on the direction of Citigroup i.e., Citigroup and IE00B0H4TS55 go up and down completely randomly.
Pair Corralation between Citigroup and IE00B0H4TS55
Taking into account the 90-day investment horizon Citigroup is expected to generate 8.53 times more return on investment than IE00B0H4TS55. However, Citigroup is 8.53 times more volatile than IE00B0H4TS55. It trades about 0.21 of its potential returns per unit of risk. IE00B0H4TS55 is currently generating about 0.04 per unit of risk. If you would invest 6,360 in Citigroup on August 29, 2024 and sell it today you would earn a total of 615.00 from holding Citigroup or generate 9.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Citigroup vs. IE00B0H4TS55
Performance |
| Timeline |
| Citigroup |
| IE00B0H4TS55 |
Citigroup and IE00B0H4TS55 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and IE00B0H4TS55
The main advantage of trading using opposite Citigroup and IE00B0H4TS55 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, IE00B0H4TS55 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 IE00B0H4TS55 will offset losses from the drop in IE00B0H4TS55's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. Echiquier Entrepreneurs G |
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.
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |