Correlation Between Citigroup and 31620MBW5
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and FIS 47 15 JUL 27, you can compare the effects of market volatilities on Citigroup and 31620MBW5 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 31620MBW5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 31620MBW5.
Diversification Opportunities for Citigroup and 31620MBW5
Very good diversification
The 3 months correlation between Citigroup and 31620MBW5 is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and FIS 47 15 JUL 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIS 47 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 31620MBW5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIS 47 15 has no effect on the direction of Citigroup i.e., Citigroup and 31620MBW5 go up and down completely randomly.
Pair Corralation between Citigroup and 31620MBW5
Taking into account the 90-day investment horizon Citigroup is expected to generate 4.79 times more return on investment than 31620MBW5. However, Citigroup is 4.79 times more volatile than FIS 47 15 JUL 27. It trades about 0.41 of its potential returns per unit of risk. FIS 47 15 JUL 27 is currently generating about -0.17 per unit of risk. If you would invest 6,994 in Citigroup on November 3, 2024 and sell it today you would earn a total of 1,149 from holding Citigroup or generate 16.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 71.43% |
| Values | Daily Returns |
Citigroup vs. FIS 47 15 JUL 27
Performance |
| Timeline |
| Citigroup |
| FIS 47 15 |
Citigroup and 31620MBW5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 31620MBW5
The main advantage of trading using opposite Citigroup and 31620MBW5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 31620MBW5 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 31620MBW5 will offset losses from the drop in 31620MBW5's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 31620MBW5 vs. Where Food Comes | 31620MBW5 vs. Q2 Holdings | 31620MBW5 vs. Sapiens International | 31620MBW5 vs. Ingredion Incorporated |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |