Correlation Between Citigroup and OPERADORA
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By analyzing existing cross correlation between Citigroup and OPERADORA DE SITES, you can compare the effects of market volatilities on Citigroup and OPERADORA 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 OPERADORA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and OPERADORA.
Diversification Opportunities for Citigroup and OPERADORA
Very good diversification
The 3 months correlation between Citigroup and OPERADORA is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and OPERADORA DE SITES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OPERADORA DE SITES 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 OPERADORA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OPERADORA DE SITES has no effect on the direction of Citigroup i.e., Citigroup and OPERADORA go up and down completely randomly.
Pair Corralation between Citigroup and OPERADORA
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.87 times more return on investment than OPERADORA. However, Citigroup is 1.15 times less risky than OPERADORA. It trades about 0.07 of its potential returns per unit of risk. OPERADORA DE SITES is currently generating about -0.08 per unit of risk. If you would invest 6,117 in Citigroup on August 29, 2024 and sell it today you would earn a total of 899.00 from holding Citigroup or generate 14.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. OPERADORA DE SITES
Performance |
| Timeline |
| Citigroup |
| OPERADORA DE SITES |
Citigroup and OPERADORA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and OPERADORA
The main advantage of trading using opposite Citigroup and OPERADORA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, OPERADORA 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 OPERADORA will offset losses from the drop in OPERADORA's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| OPERADORA vs. Fluor | OPERADORA vs. Promotora y Operadora | OPERADORA vs. Promotora y Operadora | OPERADORA vs. The Select Sector |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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