Correlation Between Citigroup and Cultural Investment
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By analyzing existing cross correlation between Citigroup and Cultural Investment Holdings, you can compare the effects of market volatilities on Citigroup and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Cultural Investment.
Diversification Opportunities for Citigroup and Cultural Investment
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Citigroup and Cultural is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Citigroup i.e., Citigroup and Cultural Investment go up and down completely randomly.
Pair Corralation between Citigroup and Cultural Investment
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.39 times more return on investment than Cultural Investment. However, Citigroup is 2.58 times less risky than Cultural Investment. It trades about 0.08 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.01 per unit of risk. If you would invest 4,525 in Citigroup on August 31, 2024 and sell it today you would earn a total of 2,562 from holding Citigroup or generate 56.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.99% |
| Values | Daily Returns |
Citigroup vs. Cultural Investment Holdings
Performance |
| Timeline |
| Citigroup |
| Cultural Investment |
Citigroup and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Cultural Investment
The main advantage of trading using opposite Citigroup and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Cultural Investment vs. BYD Co Ltd | Cultural Investment vs. Agricultural Bank of | Cultural Investment vs. Industrial and Commercial | Cultural Investment vs. China State Construction |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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