Correlation Between Citigroup and Medprin Regenerative
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By analyzing existing cross correlation between Citigroup and Medprin Regenerative Medical, you can compare the effects of market volatilities on Citigroup and Medprin Regenerative 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 Medprin Regenerative. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Medprin Regenerative.
Diversification Opportunities for Citigroup and Medprin Regenerative
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Citigroup and Medprin is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Medprin Regenerative Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Medprin Regenerative 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 Medprin Regenerative. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Medprin Regenerative has no effect on the direction of Citigroup i.e., Citigroup and Medprin Regenerative go up and down completely randomly.
Pair Corralation between Citigroup and Medprin Regenerative
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.03 times more return on investment than Medprin Regenerative. However, Citigroup is 1.03 times more volatile than Medprin Regenerative Medical. It trades about 0.38 of its potential returns per unit of risk. Medprin Regenerative Medical is currently generating about 0.15 per unit of risk. If you would invest 7,135 in Citigroup on October 27, 2024 and sell it today you would earn a total of 1,013 from holding Citigroup or generate 14.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
Citigroup vs. Medprin Regenerative Medical
Performance |
| Timeline |
| Citigroup |
| Medprin Regenerative |
Citigroup and Medprin Regenerative Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Medprin Regenerative
The main advantage of trading using opposite Citigroup and Medprin Regenerative positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Medprin Regenerative 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 Medprin Regenerative will offset losses from the drop in Medprin Regenerative's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Medprin Regenerative vs. Agricultural Bank of | Medprin Regenerative vs. Industrial and Commercial | Medprin Regenerative vs. Bank of China | Medprin Regenerative vs. China Construction Bank |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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