Correlation Between Citigroup and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Citigroup and Guler Yatirim 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 Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Guler Yatirim Holding, you can compare the effects of market volatilities on Citigroup and Guler Yatirim 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 Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Guler Yatirim.
Diversification Opportunities for Citigroup and Guler Yatirim
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and Guler is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding 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 Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of Citigroup i.e., Citigroup and Guler Yatirim go up and down completely randomly.
Pair Corralation between Citigroup and Guler Yatirim
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.57 times more return on investment than Guler Yatirim. However, Citigroup is 1.76 times less risky than Guler Yatirim. It trades about 0.11 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.03 per unit of risk. If you would invest 4,642 in Citigroup on September 4, 2024 and sell it today you would earn a total of 2,500 from holding Citigroup or generate 53.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.19% |
| Values | Daily Returns |
Citigroup vs. Guler Yatirim Holding
Performance |
| Timeline |
| Citigroup |
| Guler Yatirim Holding |
Citigroup and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Guler Yatirim
The main advantage of trading using opposite Citigroup and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Guler Yatirim 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Guler Yatirim vs. MEGA METAL | Guler Yatirim vs. Politeknik Metal Sanayi | Guler Yatirim vs. Sekerbank TAS | Guler Yatirim vs. Trabzonspor Sportif Yatirim |
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..
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |