Correlation Between Citigroup and Vats Liquor
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By analyzing existing cross correlation between Citigroup and Vats Liquor Chain, you can compare the effects of market volatilities on Citigroup and Vats Liquor 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 Vats Liquor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Vats Liquor.
Diversification Opportunities for Citigroup and Vats Liquor
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Citigroup and Vats is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Vats Liquor Chain in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vats Liquor Chain 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 Vats Liquor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vats Liquor Chain has no effect on the direction of Citigroup i.e., Citigroup and Vats Liquor go up and down completely randomly.
Pair Corralation between Citigroup and Vats Liquor
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.36 times more return on investment than Vats Liquor. However, Citigroup is 2.76 times less risky than Vats Liquor. It trades about 0.07 of its potential returns per unit of risk. Vats Liquor Chain is currently generating about -0.16 per unit of risk. If you would invest 7,196 in Citigroup on October 12, 2024 and sell it today you would earn a total of 130.00 from holding Citigroup or generate 1.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Citigroup vs. Vats Liquor Chain
Performance |
| Timeline |
| Citigroup |
| Vats Liquor Chain |
Citigroup and Vats Liquor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Vats Liquor
The main advantage of trading using opposite Citigroup and Vats Liquor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Vats Liquor 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 Vats Liquor will offset losses from the drop in Vats Liquor's long position.| Citigroup vs. Royal Bank of | Citigroup vs. JPMorgan Chase Co | Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank |
| Vats Liquor vs. INKON Life Technology | Vats Liquor vs. Hygon Information Technology | Vats Liquor vs. Eyebright Medical Technology | Vats Liquor vs. Zhongfu Information |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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