Correlation Between Citigroup and 29364WBH0
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By analyzing existing cross correlation between Citigroup and ETR 235 15 JUN 32, you can compare the effects of market volatilities on Citigroup and 29364WBH0 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 29364WBH0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 29364WBH0.
Diversification Opportunities for Citigroup and 29364WBH0
Excellent diversification
The 3 months correlation between Citigroup and 29364WBH0 is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and ETR 235 15 JUN 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ETR 235 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 29364WBH0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ETR 235 15 has no effect on the direction of Citigroup i.e., Citigroup and 29364WBH0 go up and down completely randomly.
Pair Corralation between Citigroup and 29364WBH0
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.5 times more return on investment than 29364WBH0. However, Citigroup is 1.5 times more volatile than ETR 235 15 JUN 32. It trades about 0.27 of its potential returns per unit of risk. ETR 235 15 JUN 32 is currently generating about -0.18 per unit of risk. If you would invest 6,315 in Citigroup on September 2, 2024 and sell it today you would earn a total of 772.00 from holding Citigroup or generate 12.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 80.95% |
| Values | Daily Returns |
Citigroup vs. ETR 235 15 JUN 32
Performance |
| Timeline |
| Citigroup |
| ETR 235 15 |
Citigroup and 29364WBH0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 29364WBH0
The main advantage of trading using opposite Citigroup and 29364WBH0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 29364WBH0 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 29364WBH0 will offset losses from the drop in 29364WBH0'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 CEOs Directory module to screen CEOs from public companies around the world.
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