Correlation Between Citigroup and RBC Dactions
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By analyzing existing cross correlation between Citigroup and RBC dactions mondiales, you can compare the effects of market volatilities on Citigroup and RBC Dactions 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 RBC Dactions. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and RBC Dactions.
Diversification Opportunities for Citigroup and RBC Dactions
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Citigroup and RBC is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and RBC dactions mondiales in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RBC dactions mondiales 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 RBC Dactions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RBC dactions mondiales has no effect on the direction of Citigroup i.e., Citigroup and RBC Dactions go up and down completely randomly.
Pair Corralation between Citigroup and RBC Dactions
Taking into account the 90-day investment horizon Citigroup is expected to generate 3.05 times more return on investment than RBC Dactions. However, Citigroup is 3.05 times more volatile than RBC dactions mondiales. It trades about 0.26 of its potential returns per unit of risk. RBC dactions mondiales is currently generating about 0.34 per unit of risk. If you would invest 6,361 in Citigroup on September 1, 2024 and sell it today you would earn a total of 726.00 from holding Citigroup or generate 11.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. RBC dactions mondiales
Performance |
| Timeline |
| Citigroup |
| RBC dactions mondiales |
Citigroup and RBC Dactions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and RBC Dactions
The main advantage of trading using opposite Citigroup and RBC Dactions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, RBC Dactions 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 RBC Dactions will offset losses from the drop in RBC Dactions' long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| RBC Dactions vs. RBC Select Balanced | RBC Dactions vs. RBC Portefeuille de | RBC Dactions vs. Edgepoint Global Portfolio | RBC Dactions vs. TD Comfort Balanced |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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