Correlation Between Citigroup and 26442UAQ7
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By analyzing existing cross correlation between Citigroup and DUK 525 15 MAR 33, you can compare the effects of market volatilities on Citigroup and 26442UAQ7 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 26442UAQ7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 26442UAQ7.
Diversification Opportunities for Citigroup and 26442UAQ7
Pay attention - limited upside
The 3 months correlation between Citigroup and 26442UAQ7 is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and DUK 525 15 MAR 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DUK 525 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 26442UAQ7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DUK 525 15 has no effect on the direction of Citigroup i.e., Citigroup and 26442UAQ7 go up and down completely randomly.
Pair Corralation between Citigroup and 26442UAQ7
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.02 times more return on investment than 26442UAQ7. However, Citigroup is 2.02 times more volatile than DUK 525 15 MAR 33. It trades about 0.21 of its potential returns per unit of risk. DUK 525 15 MAR 33 is currently generating about -0.08 per unit of risk. If you would invest 6,412 in Citigroup on August 30, 2024 and sell it today you would earn a total of 604.00 from holding Citigroup or generate 9.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citigroup vs. DUK 525 15 MAR 33
Performance |
| Timeline |
| Citigroup |
| DUK 525 15 |
Citigroup and 26442UAQ7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 26442UAQ7
The main advantage of trading using opposite Citigroup and 26442UAQ7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 26442UAQ7 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 26442UAQ7 will offset losses from the drop in 26442UAQ7's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 26442UAQ7 vs. Fevertree Drinks Plc | 26442UAQ7 vs. Deluxe | 26442UAQ7 vs. Fluent Inc | 26442UAQ7 vs. Integral Ad Science |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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