Correlation Between Citigroup and Impact ISR
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By analyzing existing cross correlation between Citigroup and Impact ISR Performance, you can compare the effects of market volatilities on Citigroup and Impact ISR 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 Impact ISR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Impact ISR.
Diversification Opportunities for Citigroup and Impact ISR
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Impact is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Impact ISR Performance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Impact ISR Performance 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 Impact ISR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Impact ISR Performance has no effect on the direction of Citigroup i.e., Citigroup and Impact ISR go up and down completely randomly.
Pair Corralation between Citigroup and Impact ISR
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.75 times more return on investment than Impact ISR. However, Citigroup is 2.75 times more volatile than Impact ISR Performance. It trades about 0.22 of its potential returns per unit of risk. Impact ISR Performance is currently generating about -0.14 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 656.00 from holding Citigroup or generate 10.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Impact ISR Performance
Performance |
| Timeline |
| Citigroup |
| Impact ISR Performance |
Citigroup and Impact ISR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Impact ISR
The main advantage of trading using opposite Citigroup and Impact ISR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Impact ISR 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 Impact ISR will offset losses from the drop in Impact ISR's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Impact ISR vs. JPMIF Bond Fund | Impact ISR vs. Amundi Label Actions | Impact ISR vs. CM AM Monplus NE | Impact ISR vs. R co Valor F |
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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