Correlation Between Citigroup and 02666TAF4
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By analyzing existing cross correlation between Citigroup and AMH 43 15 APR 52, you can compare the effects of market volatilities on Citigroup and 02666TAF4 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 02666TAF4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 02666TAF4.
Diversification Opportunities for Citigroup and 02666TAF4
Good diversification
The 3 months correlation between Citigroup and 02666TAF4 is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and AMH 43 15 APR 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMH 43 15 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 02666TAF4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMH 43 15 has no effect on the direction of Citigroup i.e., Citigroup and 02666TAF4 go up and down completely randomly.
Pair Corralation between Citigroup and 02666TAF4
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.0 times more return on investment than 02666TAF4. However, Citigroup is 1.0 times less risky than 02666TAF4. It trades about 0.07 of its potential returns per unit of risk. AMH 43 15 APR 52 is currently generating about 0.0 per unit of risk. If you would invest 4,293 in Citigroup on September 3, 2024 and sell it today you would earn a total of 2,794 from holding Citigroup or generate 65.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 52.93% |
| Values | Daily Returns |
Citigroup vs. AMH 43 15 APR 52
Performance |
| Timeline |
| Citigroup |
| AMH 43 15 |
Citigroup and 02666TAF4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 02666TAF4
The main advantage of trading using opposite Citigroup and 02666TAF4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 02666TAF4 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 02666TAF4 will offset losses from the drop in 02666TAF4's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 02666TAF4 vs. AEP TEX INC | 02666TAF4 vs. US BANK NATIONAL | 02666TAF4 vs. MetLife | 02666TAF4 vs. Brera 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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