Correlation Between Citigroup and Sociedad
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By analyzing existing cross correlation between Citigroup and Sociedad De Inversiones, you can compare the effects of market volatilities on Citigroup and Sociedad 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 Sociedad. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Sociedad.
Diversification Opportunities for Citigroup and Sociedad
Pay attention - limited upside
The 3 months correlation between Citigroup and Sociedad is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Sociedad De Inversiones in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sociedad De Inversiones 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 Sociedad. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sociedad De Inversiones has no effect on the direction of Citigroup i.e., Citigroup and Sociedad go up and down completely randomly.
Pair Corralation between Citigroup and Sociedad
If you would invest 4,525 in Citigroup on August 31, 2024 and sell it today you would earn a total of 2,562 from holding Citigroup or generate 56.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. Sociedad De Inversiones
Performance |
| Timeline |
| Citigroup |
| Sociedad De Inversiones |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Sociedad Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Sociedad
The main advantage of trading using opposite Citigroup and Sociedad positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Sociedad 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 Sociedad will offset losses from the drop in Sociedad's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Sociedad vs. Sociedad Matriz SAAM | Sociedad vs. Sociedad Qumica y | Sociedad vs. Sociedad Qumica y | Sociedad vs. Sociedad Punta del |
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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