Correlation Between Citigroup and CABKSM
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By analyzing existing cross correlation between Citigroup and CABKSM 6208 18 JAN 29, you can compare the effects of market volatilities on Citigroup and CABKSM 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 CABKSM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and CABKSM.
Diversification Opportunities for Citigroup and CABKSM
Excellent diversification
The 3 months correlation between Citigroup and CABKSM is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and CABKSM 6208 18 JAN 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CABKSM 6208 18 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 CABKSM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CABKSM 6208 18 has no effect on the direction of Citigroup i.e., Citigroup and CABKSM go up and down completely randomly.
Pair Corralation between Citigroup and CABKSM
Taking into account the 90-day investment horizon Citigroup is expected to generate 3.51 times more return on investment than CABKSM. However, Citigroup is 3.51 times more volatile than CABKSM 6208 18 JAN 29. It trades about 0.07 of its potential returns per unit of risk. CABKSM 6208 18 JAN 29 is currently generating about 0.02 per unit of risk. If you would invest 4,134 in Citigroup on August 30, 2024 and sell it today you would earn a total of 2,882 from holding Citigroup or generate 69.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 63.64% |
| Values | Daily Returns |
Citigroup vs. CABKSM 6208 18 JAN 29
Performance |
| Timeline |
| Citigroup |
| CABKSM 6208 18 |
Citigroup and CABKSM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and CABKSM
The main advantage of trading using opposite Citigroup and CABKSM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, CABKSM 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 CABKSM will offset losses from the drop in CABKSM's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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