Correlation Between Citigroup and 06368FAC3
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By analyzing existing cross correlation between Citigroup and BMO 125 15 SEP 26, you can compare the effects of market volatilities on Citigroup and 06368FAC3 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 06368FAC3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 06368FAC3.
Diversification Opportunities for Citigroup and 06368FAC3
Good diversification
The 3 months correlation between Citigroup and 06368FAC3 is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and BMO 125 15 SEP 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BMO 125 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 06368FAC3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BMO 125 15 has no effect on the direction of Citigroup i.e., Citigroup and 06368FAC3 go up and down completely randomly.
Pair Corralation between Citigroup and 06368FAC3
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.04 times more return on investment than 06368FAC3. However, Citigroup is 1.04 times more volatile than BMO 125 15 SEP 26. It trades about -0.08 of its potential returns per unit of risk. BMO 125 15 SEP 26 is currently generating about -0.21 per unit of risk. If you would invest 8,051 in Citigroup on November 28, 2024 and sell it today you would lose (237.00) from holding Citigroup or give up 2.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. BMO 125 15 SEP 26
Performance |
| Timeline |
| Citigroup |
| BMO 125 15 |
Citigroup and 06368FAC3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 06368FAC3
The main advantage of trading using opposite Citigroup and 06368FAC3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 06368FAC3 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 06368FAC3 will offset losses from the drop in 06368FAC3's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 06368FAC3 vs. ANTA Sports Products | 06368FAC3 vs. Smithfield Foods, Common | 06368FAC3 vs. United Parks Resorts | 06368FAC3 vs. McDonalds |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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