Correlation Between Citigroup and Beijing Seeyon
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By analyzing existing cross correlation between Citigroup and Beijing Seeyon Internet, you can compare the effects of market volatilities on Citigroup and Beijing Seeyon 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 Beijing Seeyon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Beijing Seeyon.
Diversification Opportunities for Citigroup and Beijing Seeyon
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Citigroup and Beijing is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Beijing Seeyon Internet in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Seeyon Internet 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 Beijing Seeyon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Seeyon Internet has no effect on the direction of Citigroup i.e., Citigroup and Beijing Seeyon go up and down completely randomly.
Pair Corralation between Citigroup and Beijing Seeyon
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.55 times more return on investment than Beijing Seeyon. However, Citigroup is 1.82 times less risky than Beijing Seeyon. It trades about 0.25 of its potential returns per unit of risk. Beijing Seeyon Internet is currently generating about -0.16 per unit of risk. If you would invest 7,112 in Citigroup on October 18, 2024 and sell it today you would earn a total of 715.00 from holding Citigroup or generate 10.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Citigroup vs. Beijing Seeyon Internet
Performance |
| Timeline |
| Citigroup |
| Beijing Seeyon Internet |
Citigroup and Beijing Seeyon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Beijing Seeyon
The main advantage of trading using opposite Citigroup and Beijing Seeyon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Beijing Seeyon 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 Beijing Seeyon will offset losses from the drop in Beijing Seeyon's long position.| Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank | Citigroup vs. Bank of Montreal | Citigroup vs. Bank of Nova |
| Beijing Seeyon vs. China Life Insurance | Beijing Seeyon vs. Cinda Securities Co | Beijing Seeyon vs. Piotech Inc A | Beijing Seeyon 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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