Correlation Between Citigroup and BAYNGR
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By analyzing existing cross correlation between Citigroup and BAYNGR 4625 25 JUN 38, you can compare the effects of market volatilities on Citigroup and BAYNGR 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 BAYNGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and BAYNGR.
Diversification Opportunities for Citigroup and BAYNGR
Excellent diversification
The 3 months correlation between Citigroup and BAYNGR is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and BAYNGR 4625 25 JUN 38 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BAYNGR 4625 25 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 BAYNGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BAYNGR 4625 25 has no effect on the direction of Citigroup i.e., Citigroup and BAYNGR go up and down completely randomly.
Pair Corralation between Citigroup and BAYNGR
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.92 times more return on investment than BAYNGR. However, Citigroup is 1.08 times less risky than BAYNGR. It trades about 0.1 of its potential returns per unit of risk. BAYNGR 4625 25 JUN 38 is currently generating about 0.02 per unit of risk. If you would invest 4,357 in Citigroup on August 26, 2024 and sell it today you would earn a total of 2,627 from holding Citigroup or generate 60.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 61.86% |
| Values | Daily Returns |
Citigroup vs. BAYNGR 4625 25 JUN 38
Performance |
| Timeline |
| Citigroup |
| BAYNGR 4625 25 |
Citigroup and BAYNGR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and BAYNGR
The main advantage of trading using opposite Citigroup and BAYNGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, BAYNGR 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 BAYNGR will offset losses from the drop in BAYNGR's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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