Correlation Between Citigroup and Procorp SAB
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By analyzing existing cross correlation between Citigroup and Procorp SAB de, you can compare the effects of market volatilities on Citigroup and Procorp SAB 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 Procorp SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Procorp SAB.
Diversification Opportunities for Citigroup and Procorp SAB
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Procorp is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Procorp SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Procorp SAB de 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 Procorp SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Procorp SAB de has no effect on the direction of Citigroup i.e., Citigroup and Procorp SAB go up and down completely randomly.
Pair Corralation between Citigroup and Procorp SAB
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.8 times more return on investment than Procorp SAB. However, Citigroup is 1.24 times less risky than Procorp SAB. It trades about 0.12 of its potential returns per unit of risk. Procorp SAB de is currently generating about 0.01 per unit of risk. If you would invest 4,364 in Citigroup on September 14, 2024 and sell it today you would earn a total of 2,737 from holding Citigroup or generate 62.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.26% |
| Values | Daily Returns |
Citigroup vs. Procorp SAB de
Performance |
| Timeline |
| Citigroup |
| Procorp SAB de |
Citigroup and Procorp SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Procorp SAB
The main advantage of trading using opposite Citigroup and Procorp SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Procorp SAB 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 Procorp SAB will offset losses from the drop in Procorp SAB's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Procorp SAB vs. First Majestic Silver | Procorp SAB vs. FibraHotel | Procorp SAB vs. Deutsche Bank Aktiengesellschaft | Procorp SAB vs. Prudential Financial |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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