Correlation Between Citigroup and Share India
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By analyzing existing cross correlation between Citigroup and Share India Securities, you can compare the effects of market volatilities on Citigroup and Share India 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 Share India. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Share India.
Diversification Opportunities for Citigroup and Share India
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and Share is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Share India Securities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Share India Securities 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 Share India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Share India Securities has no effect on the direction of Citigroup i.e., Citigroup and Share India go up and down completely randomly.
Pair Corralation between Citigroup and Share India
Taking into account the 90-day investment horizon Citigroup is expected to generate 19.8 times less return on investment than Share India. But when comparing it to its historical volatility, Citigroup is 20.17 times less risky than Share India. It trades about 0.07 of its potential returns per unit of risk. Share India Securities is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 23,649 in Share India Securities on September 3, 2024 and sell it today you would earn a total of 5,351 from holding Share India Securities or generate 22.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.11% |
| Values | Daily Returns |
Citigroup vs. Share India Securities
Performance |
| Timeline |
| Citigroup |
| Share India Securities |
Citigroup and Share India Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Share India
The main advantage of trading using opposite Citigroup and Share India positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Share India 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 Share India will offset losses from the drop in Share India's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Share India vs. Agro Tech Foods | Share India vs. Orient Technologies Limited | Share India vs. UltraTech Cement Limited | Share India vs. Shigan Quantum Tech |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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