Correlation Between Citigroup and Kaushalya Infrastructure
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By analyzing existing cross correlation between Citigroup and Kaushalya Infrastructure Development, you can compare the effects of market volatilities on Citigroup and Kaushalya Infrastructure 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 Kaushalya Infrastructure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Kaushalya Infrastructure.
Diversification Opportunities for Citigroup and Kaushalya Infrastructure
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Citigroup and Kaushalya is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Kaushalya Infrastructure Devel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kaushalya Infrastructure 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 Kaushalya Infrastructure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kaushalya Infrastructure has no effect on the direction of Citigroup i.e., Citigroup and Kaushalya Infrastructure go up and down completely randomly.
Pair Corralation between Citigroup and Kaushalya Infrastructure
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.45 times more return on investment than Kaushalya Infrastructure. However, Citigroup is 1.45 times more volatile than Kaushalya Infrastructure Development. It trades about 0.23 of its potential returns per unit of risk. Kaushalya Infrastructure Development is currently generating about 0.18 per unit of risk. If you would invest 6,245 in Citigroup on August 25, 2024 and sell it today you would earn a total of 739.00 from holding Citigroup or generate 11.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Citigroup vs. Kaushalya Infrastructure Devel
Performance |
| Timeline |
| Citigroup |
| Kaushalya Infrastructure |
Citigroup and Kaushalya Infrastructure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Kaushalya Infrastructure
The main advantage of trading using opposite Citigroup and Kaushalya Infrastructure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Kaushalya Infrastructure 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 Kaushalya Infrastructure will offset losses from the drop in Kaushalya Infrastructure's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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