Correlation Between Citigroup and ASBBNK
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By analyzing existing cross correlation between Citigroup and ASBBNK 1625 22 OCT 26, you can compare the effects of market volatilities on Citigroup and ASBBNK 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 ASBBNK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and ASBBNK.
Diversification Opportunities for Citigroup and ASBBNK
Very weak diversification
The 3 months correlation between Citigroup and ASBBNK is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and ASBBNK 1625 22 OCT 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASBBNK 1625 22 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 ASBBNK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASBBNK 1625 22 has no effect on the direction of Citigroup i.e., Citigroup and ASBBNK go up and down completely randomly.
Pair Corralation between Citigroup and ASBBNK
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.16 times more return on investment than ASBBNK. However, Citigroup is 2.16 times more volatile than ASBBNK 1625 22 OCT 26. It trades about 0.07 of its potential returns per unit of risk. ASBBNK 1625 22 OCT 26 is currently generating about 0.0 per unit of risk. If you would invest 4,145 in Citigroup on August 27, 2024 and sell it today you would earn a total of 2,839 from holding Citigroup or generate 68.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 36.69% |
| Values | Daily Returns |
Citigroup vs. ASBBNK 1625 22 OCT 26
Performance |
| Timeline |
| Citigroup |
| ASBBNK 1625 22 |
Citigroup and ASBBNK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and ASBBNK
The main advantage of trading using opposite Citigroup and ASBBNK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, ASBBNK 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 ASBBNK will offset losses from the drop in ASBBNK's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
| ASBBNK vs. Zhihu Inc ADR | ASBBNK vs. Delta Air Lines | ASBBNK vs. American Airlines Group | ASBBNK vs. Ryanair Holdings PLC |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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