Correlation Between Citigroup and BOEING
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By analyzing existing cross correlation between Citigroup and BOEING 5875 percent, you can compare the effects of market volatilities on Citigroup and BOEING 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 BOEING. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and BOEING.
Diversification Opportunities for Citigroup and BOEING
Good diversification
The 3 months correlation between Citigroup and BOEING is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and BOEING 5875 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOEING 5875 percent 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 BOEING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOEING 5875 percent has no effect on the direction of Citigroup i.e., Citigroup and BOEING go up and down completely randomly.
Pair Corralation between Citigroup and BOEING
Taking into account the 90-day investment horizon Citigroup is expected to generate 15.81 times less return on investment than BOEING. But when comparing it to its historical volatility, Citigroup is 27.89 times less risky than BOEING. It trades about 0.07 of its potential returns per unit of risk. BOEING 5875 percent is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 9,808 in BOEING 5875 percent on September 1, 2024 and sell it today you would earn a total of 194.00 from holding BOEING 5875 percent or generate 1.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.78% |
| Values | Daily Returns |
Citigroup vs. BOEING 5875 percent
Performance |
| Timeline |
| Citigroup |
| BOEING 5875 percent |
Citigroup and BOEING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and BOEING
The main advantage of trading using opposite Citigroup and BOEING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, BOEING 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 BOEING will offset losses from the drop in BOEING's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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