Correlation Between Citigroup and Acrisure
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By analyzing existing cross correlation between Citigroup and Acrisure LLC 144A, you can compare the effects of market volatilities on Citigroup and Acrisure 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 Acrisure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Acrisure.
Diversification Opportunities for Citigroup and Acrisure
Excellent diversification
The 3 months correlation between Citigroup and Acrisure is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Acrisure LLC 144A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acrisure LLC 144A 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 Acrisure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acrisure LLC 144A has no effect on the direction of Citigroup i.e., Citigroup and Acrisure go up and down completely randomly.
Pair Corralation between Citigroup and Acrisure
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.67 times more return on investment than Acrisure. However, Citigroup is 1.67 times more volatile than Acrisure LLC 144A. It trades about 0.38 of its potential returns per unit of risk. Acrisure LLC 144A is currently generating about -0.29 per unit of risk. If you would invest 7,100 in Citigroup on November 4, 2024 and sell it today you would earn a total of 1,043 from holding Citigroup or generate 14.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Acrisure LLC 144A
Performance |
| Timeline |
| Citigroup |
| Acrisure LLC 144A |
Citigroup and Acrisure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Acrisure
The main advantage of trading using opposite Citigroup and Acrisure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Acrisure 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 Acrisure will offset losses from the drop in Acrisure's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Acrisure vs. CTS Corporation | Acrisure vs. Asure Software | Acrisure vs. Allient | Acrisure vs. Bm Technologies |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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