Correlation Between Citigroup and Ola Electric
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By analyzing existing cross correlation between Citigroup and Ola Electric Mobility, you can compare the effects of market volatilities on Citigroup and Ola Electric 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 Ola Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Ola Electric.
Diversification Opportunities for Citigroup and Ola Electric
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Ola is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Ola Electric Mobility in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ola Electric Mobility 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 Ola Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ola Electric Mobility has no effect on the direction of Citigroup i.e., Citigroup and Ola Electric go up and down completely randomly.
Pair Corralation between Citigroup and Ola Electric
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.72 times more return on investment than Ola Electric. However, Citigroup is 1.38 times less risky than Ola Electric. It trades about 0.2 of its potential returns per unit of risk. Ola Electric Mobility is currently generating about -0.17 per unit of risk. 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 | Moves Against |
| Strength | Significant |
| Accuracy | 82.61% |
| Values | Daily Returns |
Citigroup vs. Ola Electric Mobility
Performance |
| Timeline |
| Citigroup |
| Ola Electric Mobility |
Citigroup and Ola Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Ola Electric
The main advantage of trading using opposite Citigroup and Ola Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Ola Electric 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 Ola Electric will offset losses from the drop in Ola Electric's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Ola Electric vs. Thirumalai Chemicals Limited | Ola Electric vs. JGCHEMICALS LIMITED | Ola Electric vs. EMBASSY OFFICE PARKS | Ola Electric vs. V2 Retail 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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