Correlation Between Citigroup and Zhuhai Comleader
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By analyzing existing cross correlation between Citigroup and Zhuhai Comleader Information, you can compare the effects of market volatilities on Citigroup and Zhuhai Comleader 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 Zhuhai Comleader. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Zhuhai Comleader.
Diversification Opportunities for Citigroup and Zhuhai Comleader
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Citigroup and Zhuhai is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Zhuhai Comleader Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuhai Comleader Inf 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 Zhuhai Comleader. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuhai Comleader Inf has no effect on the direction of Citigroup i.e., Citigroup and Zhuhai Comleader go up and down completely randomly.
Pair Corralation between Citigroup and Zhuhai Comleader
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.62 times more return on investment than Zhuhai Comleader. However, Citigroup is 1.61 times less risky than Zhuhai Comleader. It trades about 0.21 of its potential returns per unit of risk. Zhuhai Comleader Information is currently generating about -0.12 per unit of risk. If you would invest 6,393 in Citigroup on August 31, 2024 and sell it today you would earn a total of 623.00 from holding Citigroup or generate 9.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Zhuhai Comleader Information
Performance |
| Timeline |
| Citigroup |
| Zhuhai Comleader Inf |
Citigroup and Zhuhai Comleader Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Zhuhai Comleader
The main advantage of trading using opposite Citigroup and Zhuhai Comleader positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Zhuhai Comleader 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 Zhuhai Comleader will offset losses from the drop in Zhuhai Comleader's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Zhuhai Comleader vs. Kweichow Moutai Co | Zhuhai Comleader vs. NAURA Technology Group | Zhuhai Comleader vs. APT Medical | Zhuhai Comleader vs. Contemporary Amperex Technology |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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