Correlation Between Citigroup and Geojit Financial
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By analyzing existing cross correlation between Citigroup and Geojit Financial Services, you can compare the effects of market volatilities on Citigroup and Geojit Financial 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 Geojit Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Geojit Financial.
Diversification Opportunities for Citigroup and Geojit Financial
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Geojit is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Geojit Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Geojit Financial Services 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 Geojit Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Geojit Financial Services has no effect on the direction of Citigroup i.e., Citigroup and Geojit Financial go up and down completely randomly.
Pair Corralation between Citigroup and Geojit Financial
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.61 times more return on investment than Geojit Financial. However, Citigroup is 1.64 times less risky than Geojit Financial. It trades about 0.26 of its potential returns per unit of risk. Geojit Financial Services is currently generating about -0.08 per unit of risk. If you would invest 6,361 in Citigroup on September 1, 2024 and sell it today you would earn a total of 726.00 from holding Citigroup or generate 11.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Geojit Financial Services
Performance |
| Timeline |
| Citigroup |
| Geojit Financial Services |
Citigroup and Geojit Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Geojit Financial
The main advantage of trading using opposite Citigroup and Geojit Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Geojit Financial 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 Geojit Financial will offset losses from the drop in Geojit Financial's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Geojit Financial vs. Praxis Home Retail | Geojit Financial vs. Hybrid Financial Services | Geojit Financial vs. Karur Vysya Bank | Geojit Financial vs. Life Insurance |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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