Correlation Between Citigroup and Sequoia III
Can any of the company-specific risk be diversified away by investing in both Citigroup and Sequoia III 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 Sequoia III into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Sequoia III Renda, you can compare the effects of market volatilities on Citigroup and Sequoia III 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 Sequoia III. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Sequoia III.
Diversification Opportunities for Citigroup and Sequoia III
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Sequoia is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Sequoia III Renda in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sequoia III Renda 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 Sequoia III. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sequoia III Renda has no effect on the direction of Citigroup i.e., Citigroup and Sequoia III go up and down completely randomly.
Pair Corralation between Citigroup and Sequoia III
If you would invest 4,293 in Citigroup on September 3, 2024 and sell it today you would earn a total of 2,846 from holding Citigroup or generate 66.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
Citigroup vs. Sequoia III Renda
Performance |
| Timeline |
| Citigroup |
| Sequoia III Renda |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Sequoia III Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Sequoia III
The main advantage of trading using opposite Citigroup and Sequoia III positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Sequoia III 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 Sequoia III will offset losses from the drop in Sequoia III's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Sequoia III vs. Real Estate Investment | Sequoia III vs. NAVI CRDITO IMOBILIRIO | Sequoia III vs. LIFE CAPITAL PARTNERS | Sequoia III vs. Cshg Jhsf Prime |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |