Correlation Between Citigroup and STUDIO PRESS
Can any of the company-specific risk be diversified away by investing in both Citigroup and STUDIO PRESS 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 STUDIO PRESS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and STUDIO PRESS PLC, you can compare the effects of market volatilities on Citigroup and STUDIO PRESS 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 STUDIO PRESS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and STUDIO PRESS.
Diversification Opportunities for Citigroup and STUDIO PRESS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and STUDIO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and STUDIO PRESS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STUDIO PRESS PLC 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 STUDIO PRESS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STUDIO PRESS PLC has no effect on the direction of Citigroup i.e., Citigroup and STUDIO PRESS go up and down completely randomly.
Pair Corralation between Citigroup and STUDIO PRESS
If you would invest (100.00) in STUDIO PRESS PLC on November 28, 2024 and sell it today you would earn a total of 100.00 from holding STUDIO PRESS PLC or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. STUDIO PRESS PLC
Performance |
| Timeline |
| Citigroup |
| STUDIO PRESS PLC |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Citigroup and STUDIO PRESS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and STUDIO PRESS
The main advantage of trading using opposite Citigroup and STUDIO PRESS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, STUDIO PRESS 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 STUDIO PRESS will offset losses from the drop in STUDIO PRESS's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| STUDIO PRESS vs. NATIONAL BANK OF | STUDIO PRESS vs. MALAWI PROPERTY INVESTMENT | STUDIO PRESS vs. BLANTYRE HOTELS LIMITED | STUDIO PRESS vs. NBS BANK LIMITED |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| CEOs Directory Screen CEOs from public companies around the world | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |