Correlation Between Citigroup and BankInvest Udenlandske
Can any of the company-specific risk be diversified away by investing in both Citigroup and BankInvest Udenlandske 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 BankInvest Udenlandske into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and BankInvest Udenlandske Obligationer, you can compare the effects of market volatilities on Citigroup and BankInvest Udenlandske 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 BankInvest Udenlandske. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and BankInvest Udenlandske.
Diversification Opportunities for Citigroup and BankInvest Udenlandske
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and BankInvest is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and BankInvest Udenlandske Obligat in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Udenlandske 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 BankInvest Udenlandske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Udenlandske has no effect on the direction of Citigroup i.e., Citigroup and BankInvest Udenlandske go up and down completely randomly.
Pair Corralation between Citigroup and BankInvest Udenlandske
If you would invest 5,968 in Citigroup on December 4, 2024 and sell it today you would earn a total of 1,749 from holding Citigroup or generate 29.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. BankInvest Udenlandske Obligat
Performance |
| Timeline |
| Citigroup |
| BankInvest Udenlandske |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Citigroup and BankInvest Udenlandske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and BankInvest Udenlandske
The main advantage of trading using opposite Citigroup and BankInvest Udenlandske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, BankInvest Udenlandske 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 BankInvest Udenlandske will offset losses from the drop in BankInvest Udenlandske's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| BankInvest Udenlandske vs. Handelsinvest Danmark | BankInvest Udenlandske vs. Investeringsforeningen Danske Invest | BankInvest Udenlandske vs. Sparinv SICAV | BankInvest Udenlandske vs. Othania Invest |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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