Correlation Between Citigroup and Ziel Home
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By analyzing existing cross correlation between Citigroup and Ziel Home Furnishing, you can compare the effects of market volatilities on Citigroup and Ziel Home 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 Ziel Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Ziel Home.
Diversification Opportunities for Citigroup and Ziel Home
Very good diversification
The 3 months correlation between Citigroup and Ziel is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Ziel Home Furnishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ziel Home Furnishing 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 Ziel Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ziel Home Furnishing has no effect on the direction of Citigroup i.e., Citigroup and Ziel Home go up and down completely randomly.
Pair Corralation between Citigroup and Ziel Home
Taking into account the 90-day investment horizon Citigroup is expected to under-perform the Ziel Home. But the stock apears to be less risky and, when comparing its historical volatility, Citigroup is 1.04 times less risky than Ziel Home. The stock trades about -0.12 of its potential returns per unit of risk. The Ziel Home Furnishing is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,971 in Ziel Home Furnishing on November 27, 2024 and sell it today you would earn a total of 10.00 from holding Ziel Home Furnishing or generate 0.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 71.43% |
| Values | Daily Returns |
Citigroup vs. Ziel Home Furnishing
Performance |
| Timeline |
| Citigroup |
| Ziel Home Furnishing |
Citigroup and Ziel Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Ziel Home
The main advantage of trading using opposite Citigroup and Ziel Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Ziel Home 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 Ziel Home will offset losses from the drop in Ziel Home's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Ziel Home vs. China Life Insurance | Ziel Home vs. Cinda Securities Co | Ziel Home vs. Piotech Inc A | Ziel Home vs. Dongxing Sec Co |
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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