Correlation Between Citigroup and PB Fintech
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By analyzing existing cross correlation between Citigroup and PB Fintech Limited, you can compare the effects of market volatilities on Citigroup and PB Fintech 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 PB Fintech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and PB Fintech.
Diversification Opportunities for Citigroup and PB Fintech
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and POLICYBZR is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and PB Fintech Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PB Fintech 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 PB Fintech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PB Fintech Limited has no effect on the direction of Citigroup i.e., Citigroup and PB Fintech go up and down completely randomly.
Pair Corralation between Citigroup and PB Fintech
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.56 times less return on investment than PB Fintech. But when comparing it to its historical volatility, Citigroup is 1.56 times less risky than PB Fintech. It trades about 0.07 of its potential returns per unit of risk. PB Fintech Limited is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 45,770 in PB Fintech Limited on August 27, 2024 and sell it today you would earn a total of 127,155 from holding PB Fintech Limited or generate 277.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.79% |
| Values | Daily Returns |
Citigroup vs. PB Fintech Limited
Performance |
| Timeline |
| Citigroup |
| PB Fintech Limited |
Citigroup and PB Fintech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and PB Fintech
The main advantage of trading using opposite Citigroup and PB Fintech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, PB Fintech 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 PB Fintech will offset losses from the drop in PB Fintech's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
| PB Fintech vs. Reliance Industries Limited | PB Fintech vs. Life Insurance | PB Fintech vs. Indian Oil | PB Fintech vs. Oil Natural Gas |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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