Correlation Between Citigroup and Ab Government
Can any of the company-specific risk be diversified away by investing in both Citigroup and Ab Government at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Citigroup and Ab Government into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Ab Government Exchange, you can compare the effects of market volatilities on Citigroup and Ab Government 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 Ab Government. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Ab Government.
Diversification Opportunities for Citigroup and Ab Government
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and AEAXX is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Ab Government Exchange in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Government Exchange 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 Ab Government. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Government Exchange has no effect on the direction of Citigroup i.e., Citigroup and Ab Government go up and down completely randomly.
Pair Corralation between Citigroup and Ab Government
If you would invest 4,364 in Citigroup on September 15, 2024 and sell it today you would earn a total of 2,737 from holding Citigroup or generate 62.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 40.52% |
| Values | Daily Returns |
Citigroup vs. Ab Government Exchange
Performance |
| Timeline |
| Citigroup |
| Ab Government Exchange |
Citigroup and Ab Government Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Ab Government
The main advantage of trading using opposite Citigroup and Ab Government positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Ab Government 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 Ab Government will offset losses from the drop in Ab Government's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Ab Government vs. Wealthbuilder Conservative Allocation | Ab Government vs. Stone Ridge Diversified | Ab Government vs. Calvert Conservative Allocation | Ab Government vs. Prudential Core Conservative |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |