Correlation Between Citigroup and SOUTHLAND HOLDINGS
Can any of the company-specific risk be diversified away by investing in both Citigroup and SOUTHLAND HOLDINGS 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 SOUTHLAND HOLDINGS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and SOUTHLAND HOLDINGS INC, you can compare the effects of market volatilities on Citigroup and SOUTHLAND HOLDINGS 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 SOUTHLAND HOLDINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and SOUTHLAND HOLDINGS.
Diversification Opportunities for Citigroup and SOUTHLAND HOLDINGS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and SOUTHLAND is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and SOUTHLAND HOLDINGS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHLAND HOLDINGS INC 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 SOUTHLAND HOLDINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHLAND HOLDINGS INC has no effect on the direction of Citigroup i.e., Citigroup and SOUTHLAND HOLDINGS go up and down completely randomly.
Pair Corralation between Citigroup and SOUTHLAND HOLDINGS
If you would invest 6,205 in Citigroup on August 30, 2024 and sell it today you would earn a total of 811.00 from holding Citigroup or generate 13.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. SOUTHLAND HOLDINGS INC
Performance |
| Timeline |
| Citigroup |
| SOUTHLAND HOLDINGS INC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and SOUTHLAND HOLDINGS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and SOUTHLAND HOLDINGS
The main advantage of trading using opposite Citigroup and SOUTHLAND HOLDINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, SOUTHLAND HOLDINGS 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 SOUTHLAND HOLDINGS will offset losses from the drop in SOUTHLAND HOLDINGS's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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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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