Correlation Between Citigroup and ACGCAP
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By analyzing existing cross correlation between Citigroup and ACGCAP 195 30 JAN 26, you can compare the effects of market volatilities on Citigroup and ACGCAP 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 ACGCAP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and ACGCAP.
Diversification Opportunities for Citigroup and ACGCAP
Very good diversification
The 3 months correlation between Citigroup and ACGCAP is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and ACGCAP 195 30 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACGCAP 195 30 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 ACGCAP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACGCAP 195 30 has no effect on the direction of Citigroup i.e., Citigroup and ACGCAP go up and down completely randomly.
Pair Corralation between Citigroup and ACGCAP
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.48 times more return on investment than ACGCAP. However, Citigroup is 1.48 times more volatile than ACGCAP 195 30 JAN 26. It trades about 0.11 of its potential returns per unit of risk. ACGCAP 195 30 JAN 26 is currently generating about 0.03 per unit of risk. If you would invest 4,714 in Citigroup on September 3, 2024 and sell it today you would earn a total of 2,425 from holding Citigroup or generate 51.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 75.71% |
| Values | Daily Returns |
Citigroup vs. ACGCAP 195 30 JAN 26
Performance |
| Timeline |
| Citigroup |
| ACGCAP 195 30 |
Citigroup and ACGCAP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and ACGCAP
The main advantage of trading using opposite Citigroup and ACGCAP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, ACGCAP 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 ACGCAP will offset losses from the drop in ACGCAP's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| ACGCAP vs. Diageo PLC ADR | ACGCAP vs. NH Foods Ltd | ACGCAP vs. Natural Alternatives International | ACGCAP vs. Suntory Beverage Food |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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