Correlation Between Citigroup and CSIF III
Specify exactly 2 symbols:
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
Almost no diversification
The 3 months correlation between Citigroup and CSIF is 0.94. 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 2.36 times more return on investment than CSIF III. However, Citigroup is 2.36 times more volatile than CSIF III Eq. It trades about 0.07 of its potential returns per unit of risk. CSIF III Eq is currently generating about 0.11 per unit of risk. If you would invest 4,168 in Citigroup on September 20, 2024 and sell it today you would earn a total of 2,734 from holding Citigroup or generate 65.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| 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. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| CSIF III vs. CSIF III Eq | CSIF III vs. CSIF III Equity | CSIF III vs. CSIF III Equity | CSIF III vs. CSIF I Real |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |