Correlation Between Citigroup and SilverBox Corp
Can any of the company-specific risk be diversified away by investing in both Citigroup and SilverBox Corp 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 SilverBox Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and SilverBox Corp III, you can compare the effects of market volatilities on Citigroup and SilverBox Corp 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 SilverBox Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and SilverBox Corp.
Diversification Opportunities for Citigroup and SilverBox Corp
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Citigroup and SilverBox is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and SilverBox Corp III in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SilverBox Corp III 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 SilverBox Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SilverBox Corp III has no effect on the direction of Citigroup i.e., Citigroup and SilverBox Corp go up and down completely randomly.
Pair Corralation between Citigroup and SilverBox Corp
If you would invest 6,315 in Citigroup on September 2, 2024 and sell it today you would earn a total of 772.00 from holding Citigroup or generate 12.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 14.29% |
| Values | Daily Returns |
Citigroup vs. SilverBox Corp III
Performance |
| Timeline |
| Citigroup |
| SilverBox Corp III |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
Citigroup and SilverBox Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and SilverBox Corp
The main advantage of trading using opposite Citigroup and SilverBox Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, SilverBox Corp 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 SilverBox Corp will offset losses from the drop in SilverBox Corp's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| SilverBox Corp vs. SunLink Health Systems | SilverBox Corp vs. Q2 Holdings | SilverBox Corp vs. Meiwu Technology Co | SilverBox Corp vs. Kaltura |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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