Correlation Between Citigroup and Total Produce
Can any of the company-specific risk be diversified away by investing in both Citigroup and Total Produce 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 Total Produce into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Total Produce Plc, you can compare the effects of market volatilities on Citigroup and Total Produce 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 Total Produce. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Total Produce.
Diversification Opportunities for Citigroup and Total Produce
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Total is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Total Produce Plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Total Produce 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 Total Produce. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Total Produce Plc has no effect on the direction of Citigroup i.e., Citigroup and Total Produce go up and down completely randomly.
Pair Corralation between Citigroup and Total Produce
If you would invest (100.00) in Total Produce Plc on September 23, 2024 and sell it today you would earn a total of 100.00 from holding Total Produce 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. Total Produce Plc
Performance |
| Timeline |
| Citigroup |
| Total Produce Plc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Total Produce Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Total Produce
The main advantage of trading using opposite Citigroup and Total Produce positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Total Produce 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 Total Produce will offset losses from the drop in Total Produce's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank | Citigroup vs. Bank of Montreal |
| Total Produce vs. Universal Music Group | Total Produce vs. Solstad Offshore ASA | Total Produce vs. Vitec Software Group | Total Produce vs. Delta Air Lines |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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