Correlation Between Citigroup and 05523RAE7
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and BALN 3 15 SEP 50, you can compare the effects of market volatilities on Citigroup and 05523RAE7 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 05523RAE7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 05523RAE7.
Diversification Opportunities for Citigroup and 05523RAE7
Weak diversification
The 3 months correlation between Citigroup and 05523RAE7 is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and BALN 3 15 SEP 50 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BALN 3 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 05523RAE7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BALN 3 15 has no effect on the direction of Citigroup i.e., Citigroup and 05523RAE7 go up and down completely randomly.
Pair Corralation between Citigroup and 05523RAE7
Taking into account the 90-day investment horizon Citigroup is expected to generate 3.12 times more return on investment than 05523RAE7. However, Citigroup is 3.12 times more volatile than BALN 3 15 SEP 50. It trades about 0.21 of its potential returns per unit of risk. BALN 3 15 SEP 50 is currently generating about 0.14 per unit of risk. If you would invest 6,393 in Citigroup on August 31, 2024 and sell it today you would earn a total of 623.00 from holding Citigroup or generate 9.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 36.36% |
| Values | Daily Returns |
Citigroup vs. BALN 3 15 SEP 50
Performance |
| Timeline |
| Citigroup |
| BALN 3 15 |
Citigroup and 05523RAE7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 05523RAE7
The main advantage of trading using opposite Citigroup and 05523RAE7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 05523RAE7 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 05523RAE7 will offset losses from the drop in 05523RAE7's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 05523RAE7 vs. ATT Inc | 05523RAE7 vs. Home Depot | 05523RAE7 vs. Cisco Systems | 05523RAE7 vs. Dupont De Nemours |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |