Correlation Between Citigroup and 337738BE7
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By analyzing existing cross correlation between Citigroup and FISV 56 02 MAR 33, you can compare the effects of market volatilities on Citigroup and 337738BE7 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 337738BE7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 337738BE7.
Diversification Opportunities for Citigroup and 337738BE7
Pay attention - limited upside
The 3 months correlation between Citigroup and 337738BE7 is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and FISV 56 02 MAR 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FISV 56 02 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 337738BE7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FISV 56 02 has no effect on the direction of Citigroup i.e., Citigroup and 337738BE7 go up and down completely randomly.
Pair Corralation between Citigroup and 337738BE7
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.56 times more return on investment than 337738BE7. However, Citigroup is 2.56 times more volatile than FISV 56 02 MAR 33. It trades about 0.26 of its potential returns per unit of risk. FISV 56 02 MAR 33 is currently generating about -0.17 per unit of risk. If you would invest 6,361 in Citigroup on September 1, 2024 and sell it today you would earn a total of 726.00 from holding Citigroup or generate 11.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Citigroup vs. FISV 56 02 MAR 33
Performance |
| Timeline |
| Citigroup |
| FISV 56 02 |
Citigroup and 337738BE7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 337738BE7
The main advantage of trading using opposite Citigroup and 337738BE7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 337738BE7 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 337738BE7 will offset losses from the drop in 337738BE7's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 337738BE7 vs. The Coca Cola | 337738BE7 vs. Willamette Valley Vineyards | 337738BE7 vs. Micron Technology | 337738BE7 vs. Advanced Micro Devices |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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