Correlation Between Citigroup and Time Publishing
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By analyzing existing cross correlation between Citigroup and Time Publishing and, you can compare the effects of market volatilities on Citigroup and Time Publishing 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 Time Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Time Publishing.
Diversification Opportunities for Citigroup and Time Publishing
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Citigroup and Time is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Time Publishing and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Time Publishing 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 Time Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Time Publishing has no effect on the direction of Citigroup i.e., Citigroup and Time Publishing go up and down completely randomly.
Pair Corralation between Citigroup and Time Publishing
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.14 times more return on investment than Time Publishing. However, Citigroup is 1.14 times more volatile than Time Publishing and. It trades about 0.26 of its potential returns per unit of risk. Time Publishing and is currently generating about 0.2 per unit of risk. If you would invest 6,361 in Citigroup on September 1, 2024 and sell it today you would earn a total of 726.00 from holding Citigroup or generate 11.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citigroup vs. Time Publishing and
Performance |
| Timeline |
| Citigroup |
| Time Publishing |
Citigroup and Time Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Time Publishing
The main advantage of trading using opposite Citigroup and Time Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Time Publishing 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 Time Publishing will offset losses from the drop in Time Publishing's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Time Publishing vs. Cambricon Technologies Corp | Time Publishing vs. Loongson Technology Corp | Time Publishing vs. Shenzhen Fortune Trend | Time Publishing vs. Chongqing Road Bridge |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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