Correlation Between Citigroup and GFC Green
Can any of the company-specific risk be diversified away by investing in both Citigroup and GFC Green 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 GFC Green into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and GFC Green Fields, you can compare the effects of market volatilities on Citigroup and GFC Green 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 GFC Green. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and GFC Green.
Diversification Opportunities for Citigroup and GFC Green
Pay attention - limited upside
The 3 months correlation between Citigroup and GFC is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and GFC Green Fields in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GFC Green Fields 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 GFC Green. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GFC Green Fields has no effect on the direction of Citigroup i.e., Citigroup and GFC Green go up and down completely randomly.
Pair Corralation between Citigroup and GFC Green
If you would invest 6,315 in Citigroup on September 2, 2024 and sell it today you would earn a total of 772.00 from holding Citigroup or generate 12.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 80.95% |
| Values | Daily Returns |
Citigroup vs. GFC Green Fields
Performance |
| Timeline |
| Citigroup |
| GFC Green Fields |
Citigroup and GFC Green Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and GFC Green
The main advantage of trading using opposite Citigroup and GFC Green positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, GFC Green 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 GFC Green will offset losses from the drop in GFC Green'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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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