Correlation Between Citigroup and JMT Auto
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By analyzing existing cross correlation between Citigroup and JMT Auto Limited, you can compare the effects of market volatilities on Citigroup and JMT Auto 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 JMT Auto. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and JMT Auto.
Diversification Opportunities for Citigroup and JMT Auto
Pay attention - limited upside
The 3 months correlation between Citigroup and JMT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and JMT Auto Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JMT Auto Limited 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 JMT Auto. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JMT Auto Limited has no effect on the direction of Citigroup i.e., Citigroup and JMT Auto go up and down completely randomly.
Pair Corralation between Citigroup and JMT Auto
If you would invest 6,412 in Citigroup on August 30, 2024 and sell it today you would earn a total of 604.00 from holding Citigroup or generate 9.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. JMT Auto Limited
Performance |
| Timeline |
| Citigroup |
| JMT Auto Limited |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and JMT Auto Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and JMT Auto
The main advantage of trading using opposite Citigroup and JMT Auto positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, JMT Auto 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 JMT Auto will offset losses from the drop in JMT Auto's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| JMT Auto vs. Manaksia Coated Metals | JMT Auto vs. Life Insurance | JMT Auto vs. SBI Life Insurance | JMT Auto vs. PB Fintech Limited |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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