Correlation Between Citigroup and 053484AC5
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By analyzing existing cross correlation between Citigroup and AVB 19 01 DEC 28, you can compare the effects of market volatilities on Citigroup and 053484AC5 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 053484AC5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 053484AC5.
Diversification Opportunities for Citigroup and 053484AC5
Pay attention - limited upside
The 3 months correlation between Citigroup and 053484AC5 is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and AVB 19 01 DEC 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVB 19 01 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 053484AC5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVB 19 01 has no effect on the direction of Citigroup i.e., Citigroup and 053484AC5 go up and down completely randomly.
Pair Corralation between Citigroup and 053484AC5
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.2 times more return on investment than 053484AC5. However, Citigroup is 1.2 times more volatile than AVB 19 01 DEC 28. It trades about 0.42 of its potential returns per unit of risk. AVB 19 01 DEC 28 is currently generating about -0.24 per unit of risk. If you would invest 6,994 in Citigroup on November 3, 2024 and sell it today you would earn a total of 1,149 from holding Citigroup or generate 16.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 55.0% |
| Values | Daily Returns |
Citigroup vs. AVB 19 01 DEC 28
Performance |
| Timeline |
| Citigroup |
| AVB 19 01 |
Citigroup and 053484AC5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 053484AC5
The main advantage of trading using opposite Citigroup and 053484AC5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 053484AC5 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 053484AC5 will offset losses from the drop in 053484AC5's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 053484AC5 vs. AEP TEX INC | 053484AC5 vs. US BANK NATIONAL | 053484AC5 vs. Reliance Global Group | 053484AC5 vs. Bayerische Motoren Werke |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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