Correlation Between Citigroup and Win Hanverky
Can any of the company-specific risk be diversified away by investing in both Citigroup and Win Hanverky 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 Win Hanverky into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Win Hanverky Holdings, you can compare the effects of market volatilities on Citigroup and Win Hanverky 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 Win Hanverky. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Win Hanverky.
Diversification Opportunities for Citigroup and Win Hanverky
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Win is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Win Hanverky Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Win Hanverky 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 Win Hanverky. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Win Hanverky Holdings has no effect on the direction of Citigroup i.e., Citigroup and Win Hanverky go up and down completely randomly.
Pair Corralation between Citigroup and Win Hanverky
If you would invest 7,250 in Citigroup on October 11, 2024 and sell it today you would earn a total of 76.00 from holding Citigroup or generate 1.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. Win Hanverky Holdings
Performance |
| Timeline |
| Citigroup |
| Win Hanverky Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Win Hanverky Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Win Hanverky
The main advantage of trading using opposite Citigroup and Win Hanverky positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Win Hanverky 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 Win Hanverky will offset losses from the drop in Win Hanverky's long position.| Citigroup vs. Royal Bank of | Citigroup vs. JPMorgan Chase Co | Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank |
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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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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