Correlation Between Citigroup and Green Panda
Can any of the company-specific risk be diversified away by investing in both Citigroup and Green Panda 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 Green Panda into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Green Panda Capital, you can compare the effects of market volatilities on Citigroup and Green Panda 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 Green Panda. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Green Panda.
Diversification Opportunities for Citigroup and Green Panda
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Green is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Green Panda Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Green Panda Capital 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 Green Panda. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Green Panda Capital has no effect on the direction of Citigroup i.e., Citigroup and Green Panda go up and down completely randomly.
Pair Corralation between Citigroup and Green Panda
If you would invest 7.50 in Green Panda Capital on December 1, 2024 and sell it today you would earn a total of 0.00 from holding Green Panda Capital or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Green Panda Capital
Performance |
| Timeline |
| Citigroup |
| Green Panda Capital |
Citigroup and Green Panda Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Green Panda
The main advantage of trading using opposite Citigroup and Green Panda positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Green Panda 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 Green Panda will offset losses from the drop in Green Panda's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Green Panda vs. Dream Office Real | Green Panda vs. Dream Industrial Real | Green Panda vs. Northstar Clean Technologies | Green Panda vs. Mako Mining Corp |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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