Correlation Between Citigroup and Accel SAB
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By analyzing existing cross correlation between Citigroup and Accel SAB de, you can compare the effects of market volatilities on Citigroup and Accel SAB 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 Accel SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Accel SAB.
Diversification Opportunities for Citigroup and Accel SAB
Pay attention - limited upside
The 3 months correlation between Citigroup and Accel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Accel SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accel SAB de 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 Accel SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accel SAB de has no effect on the direction of Citigroup i.e., Citigroup and Accel SAB go up and down completely randomly.
Pair Corralation between Citigroup and Accel SAB
If you would invest 6,079 in Citigroup on August 30, 2024 and sell it today you would earn a total of 937.00 from holding Citigroup or generate 15.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
Citigroup vs. Accel SAB de
Performance |
| Timeline |
| Citigroup |
| Accel SAB de |
Citigroup and Accel SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Accel SAB
The main advantage of trading using opposite Citigroup and Accel SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Accel SAB 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 Accel SAB will offset losses from the drop in Accel SAB's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Accel SAB vs. Monster Beverage Corp | Accel SAB vs. Lloyds Banking Group | Accel SAB vs. Cognizant Technology Solutions | Accel SAB vs. Grupo Carso SAB |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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