Correlation Between Citigroup and 25156PBA0
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By analyzing existing cross correlation between Citigroup and DT 36 19 JAN 27, you can compare the effects of market volatilities on Citigroup and 25156PBA0 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 25156PBA0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 25156PBA0.
Diversification Opportunities for Citigroup and 25156PBA0
Average diversification
The 3 months correlation between Citigroup and 25156PBA0 is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and DT 36 19 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 25156PBA0 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 25156PBA0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 25156PBA0 has no effect on the direction of Citigroup i.e., Citigroup and 25156PBA0 go up and down completely randomly.
Pair Corralation between Citigroup and 25156PBA0
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.17 times more return on investment than 25156PBA0. However, Citigroup is 2.17 times more volatile than DT 36 19 JAN 27. It trades about 0.08 of its potential returns per unit of risk. DT 36 19 JAN 27 is currently generating about 0.01 per unit of risk. If you would invest 4,525 in Citigroup on August 31, 2024 and sell it today you would earn a total of 2,562 from holding Citigroup or generate 56.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 33.96% |
| Values | Daily Returns |
Citigroup vs. DT 36 19 JAN 27
Performance |
| Timeline |
| Citigroup |
| 25156PBA0 |
Citigroup and 25156PBA0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 25156PBA0
The main advantage of trading using opposite Citigroup and 25156PBA0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 25156PBA0 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 25156PBA0 will offset losses from the drop in 25156PBA0's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 25156PBA0 vs. ATT Inc | 25156PBA0 vs. Home Depot | 25156PBA0 vs. Cisco Systems | 25156PBA0 vs. Dupont De Nemours |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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