Correlation Between Citigroup and CSIF III
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By analyzing existing cross correlation between Citigroup and CSIF III Eq, you can compare the effects of market volatilities on Citigroup and CSIF III 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 CSIF III. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and CSIF III.
Diversification Opportunities for Citigroup and CSIF III
Very poor diversification
The 3 months correlation between Citigroup and CSIF is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and CSIF III Eq in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSIF III Eq 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 CSIF III. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSIF III Eq has no effect on the direction of Citigroup i.e., Citigroup and CSIF III go up and down completely randomly.
Pair Corralation between Citigroup and CSIF III
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.65 times more return on investment than CSIF III. However, Citigroup is 1.65 times more volatile than CSIF III Eq. It trades about 0.0 of its potential returns per unit of risk. CSIF III Eq is currently generating about -0.03 per unit of risk. If you would invest 7,149 in Citigroup on October 15, 2024 and sell it today you would lose (9.00) from holding Citigroup or give up 0.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 68.42% |
| Values | Daily Returns |
Citigroup vs. CSIF III Eq
Performance |
| Timeline |
| Citigroup |
| CSIF III Eq |
Citigroup and CSIF III Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and CSIF III
The main advantage of trading using opposite Citigroup and CSIF III positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, CSIF III 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 CSIF III will offset losses from the drop in CSIF III's long position.| Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank | Citigroup vs. Bank of Montreal | Citigroup vs. Bank of Nova |
| CSIF III vs. Procimmo Real Estate | CSIF III vs. SPDR Dow Jones | CSIF III vs. Baloise Holding AG | CSIF III vs. Autoneum Holding AG |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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