Correlation Between Citigroup and Kweichow Moutai
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By analyzing existing cross correlation between Citigroup and Kweichow Moutai Co, you can compare the effects of market volatilities on Citigroup and Kweichow Moutai 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 Kweichow Moutai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Kweichow Moutai.
Diversification Opportunities for Citigroup and Kweichow Moutai
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Citigroup and Kweichow is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Kweichow Moutai Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kweichow Moutai 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 Kweichow Moutai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kweichow Moutai has no effect on the direction of Citigroup i.e., Citigroup and Kweichow Moutai go up and down completely randomly.
Pair Corralation between Citigroup and Kweichow Moutai
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.32 times more return on investment than Kweichow Moutai. However, Citigroup is 1.32 times more volatile than Kweichow Moutai Co. It trades about 0.25 of its potential returns per unit of risk. Kweichow Moutai Co is currently generating about -0.12 per unit of risk. If you would invest 6,360 in Citigroup on August 28, 2024 and sell it today you would earn a total of 715.00 from holding Citigroup or generate 11.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Kweichow Moutai Co
Performance |
| Timeline |
| Citigroup |
| Kweichow Moutai |
Citigroup and Kweichow Moutai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Kweichow Moutai
The main advantage of trading using opposite Citigroup and Kweichow Moutai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Kweichow Moutai 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 Kweichow Moutai will offset losses from the drop in Kweichow Moutai's long position.| Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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