Correlation Between Citigroup and SUZANO
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By analyzing existing cross correlation between Citigroup and SUZANO 575 14 JUL 26, you can compare the effects of market volatilities on Citigroup and SUZANO 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 SUZANO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and SUZANO.
Diversification Opportunities for Citigroup and SUZANO
Weak diversification
The 3 months correlation between Citigroup and SUZANO is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and SUZANO 575 14 JUL 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUZANO 575 14 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 SUZANO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUZANO 575 14 has no effect on the direction of Citigroup i.e., Citigroup and SUZANO go up and down completely randomly.
Pair Corralation between Citigroup and SUZANO
Taking into account the 90-day investment horizon Citigroup is expected to generate 3.02 times more return on investment than SUZANO. However, Citigroup is 3.02 times more volatile than SUZANO 575 14 JUL 26. It trades about 0.07 of its potential returns per unit of risk. SUZANO 575 14 JUL 26 is currently generating about -0.03 per unit of risk. If you would invest 4,218 in Citigroup on September 2, 2024 and sell it today you would earn a total of 2,869 from holding Citigroup or generate 68.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 14.11% |
| Values | Daily Returns |
Citigroup vs. SUZANO 575 14 JUL 26
Performance |
| Timeline |
| Citigroup |
| SUZANO 575 14 |
Citigroup and SUZANO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and SUZANO
The main advantage of trading using opposite Citigroup and SUZANO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, SUZANO 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 SUZANO will offset losses from the drop in SUZANO's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| SUZANO vs. American Airlines Group | SUZANO vs. NI Holdings | SUZANO vs. JetBlue Airways Corp | SUZANO vs. Aspen Insurance Holdings |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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