Correlation Between Citigroup and Bleichroeder Acquisition
Can any of the company-specific risk be diversified away by investing in both Citigroup and Bleichroeder Acquisition 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 Bleichroeder Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Bleichroeder Acquisition Corp, you can compare the effects of market volatilities on Citigroup and Bleichroeder Acquisition 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 Bleichroeder Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Bleichroeder Acquisition.
Diversification Opportunities for Citigroup and Bleichroeder Acquisition
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and Bleichroeder is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Bleichroeder Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bleichroeder Acquisition 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 Bleichroeder Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bleichroeder Acquisition has no effect on the direction of Citigroup i.e., Citigroup and Bleichroeder Acquisition go up and down completely randomly.
Pair Corralation between Citigroup and Bleichroeder Acquisition
If you would invest 4,118 in Citigroup on August 29, 2024 and sell it today you would earn a total of 2,898 from holding Citigroup or generate 70.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 4.03% |
| Values | Daily Returns |
Citigroup vs. Bleichroeder Acquisition Corp
Performance |
| Timeline |
| Citigroup |
| Bleichroeder Acquisition |
Citigroup and Bleichroeder Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Bleichroeder Acquisition
The main advantage of trading using opposite Citigroup and Bleichroeder Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Bleichroeder Acquisition 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 Bleichroeder Acquisition will offset losses from the drop in Bleichroeder Acquisition's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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