Correlation Between Citigroup and Tsuruha Holdings
Can any of the company-specific risk be diversified away by investing in both Citigroup and Tsuruha 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 Tsuruha Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Tsuruha Holdings, you can compare the effects of market volatilities on Citigroup and Tsuruha 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 Tsuruha Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Tsuruha Holdings.
Diversification Opportunities for Citigroup and Tsuruha Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Tsuruha is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Tsuruha Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tsuruha Holdings 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 Tsuruha Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tsuruha Holdings has no effect on the direction of Citigroup i.e., Citigroup and Tsuruha Holdings go up and down completely randomly.
Pair Corralation between Citigroup and Tsuruha Holdings
If you would invest 5,856 in Citigroup on January 11, 2025 and sell it today you would earn a total of 303.00 from holding Citigroup or generate 5.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. Tsuruha Holdings
Performance |
| Timeline |
| Citigroup |
| Tsuruha Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Citigroup and Tsuruha Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Tsuruha Holdings
The main advantage of trading using opposite Citigroup and Tsuruha Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Tsuruha 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 Tsuruha Holdings will offset losses from the drop in Tsuruha Holdings' long position.| Citigroup vs. Barclays PLC ADR | Citigroup vs. ING Group NV | Citigroup vs. Banco Santander SA | Citigroup vs. HSBC Holdings PLC |
| Tsuruha Holdings vs. KeyCorp | Tsuruha Holdings vs. Finnair Oyj | Tsuruha Holdings vs. Commonwealth Bank of | Tsuruha Holdings vs. Wizz Air Holdings |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Global Correlations Find global opportunities by holding instruments from different markets |