Correlation Between Citigroup and Bosera CMSK
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By analyzing existing cross correlation between Citigroup and Bosera CMSK Industrial, you can compare the effects of market volatilities on Citigroup and Bosera CMSK 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 Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Bosera CMSK.
Diversification Opportunities for Citigroup and Bosera CMSK
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Citigroup and Bosera is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial 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 Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Citigroup i.e., Citigroup and Bosera CMSK go up and down completely randomly.
Pair Corralation between Citigroup and Bosera CMSK
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.04 times less return on investment than Bosera CMSK. In addition to that, Citigroup is 1.3 times more volatile than Bosera CMSK Industrial. It trades about 0.11 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.15 per unit of volatility. If you would invest 139.00 in Bosera CMSK Industrial on October 18, 2024 and sell it today you would earn a total of 78.00 from holding Bosera CMSK Industrial or generate 56.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.97% |
| Values | Daily Returns |
Citigroup vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Citigroup |
| Bosera CMSK Industrial |
Citigroup and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Bosera CMSK
The main advantage of trading using opposite Citigroup and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank | Citigroup vs. Bank of Montreal | Citigroup vs. Bank of Nova |
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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