Correlation Between Citigroup and Hsi Renda
Can any of the company-specific risk be diversified away by investing in both Citigroup and Hsi Renda 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 Hsi Renda into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Hsi Renda Imobiliario, you can compare the effects of market volatilities on Citigroup and Hsi Renda 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 Hsi Renda. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Hsi Renda.
Diversification Opportunities for Citigroup and Hsi Renda
Very good diversification
The 3 months correlation between Citigroup and Hsi is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Hsi Renda Imobiliario in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hsi Renda Imobiliario 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 Hsi Renda. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hsi Renda Imobiliario has no effect on the direction of Citigroup i.e., Citigroup and Hsi Renda go up and down completely randomly.
Pair Corralation between Citigroup and Hsi Renda
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.54 times more return on investment than Hsi Renda. However, Citigroup is 2.54 times more volatile than Hsi Renda Imobiliario. It trades about 0.27 of its potential returns per unit of risk. Hsi Renda Imobiliario is currently generating about 0.18 per unit of risk. 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 | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Citigroup vs. Hsi Renda Imobiliario
Performance |
| Timeline |
| Citigroup |
| Hsi Renda Imobiliario |
Citigroup and Hsi Renda Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Hsi Renda
The main advantage of trading using opposite Citigroup and Hsi Renda positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Hsi Renda 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 Hsi Renda will offset losses from the drop in Hsi Renda's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Hsi Renda vs. Hsi Ativos Financeiros | Hsi Renda vs. Hsi Malls Fundo | Hsi Renda vs. Real Estate Investment | Hsi Renda vs. NAVI CRDITO IMOBILIRIO |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |