Correlation Between Citigroup and Mondee Holdings
Can any of the company-specific risk be diversified away by investing in both Citigroup and Mondee Holdings 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 Mondee Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Mondee Holdings, you can compare the effects of market volatilities on Citigroup and Mondee Holdings 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 Mondee Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Mondee Holdings.
Diversification Opportunities for Citigroup and Mondee Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Mondee is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Mondee Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mondee Holdings 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 Mondee Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mondee Holdings has no effect on the direction of Citigroup i.e., Citigroup and Mondee Holdings go up and down completely randomly.
Pair Corralation between Citigroup and Mondee Holdings
If you would invest 4,331 in Citigroup on January 15, 2025 and sell it today you would earn a total of 2,102 from holding Citigroup or generate 48.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. Mondee Holdings
Performance |
| Timeline |
| Citigroup |
| Mondee Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Citigroup and Mondee Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Mondee Holdings
The main advantage of trading using opposite Citigroup and Mondee Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Mondee Holdings 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 Mondee Holdings will offset losses from the drop in Mondee Holdings' long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Mondee Holdings vs. Yatra Online | Mondee Holdings vs. Despegar Corp | Mondee Holdings vs. Lindblad Expeditions Holdings | Mondee Holdings vs. MakeMyTrip 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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