Correlation Between Citigroup and 361448AU7
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and GATX P 52, you can compare the effects of market volatilities on Citigroup and 361448AU7 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 361448AU7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 361448AU7.
Diversification Opportunities for Citigroup and 361448AU7
Weak diversification
The 3 months correlation between Citigroup and 361448AU7 is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and GATX P 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GATX P 52 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 361448AU7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GATX P 52 has no effect on the direction of Citigroup i.e., Citigroup and 361448AU7 go up and down completely randomly.
Pair Corralation between Citigroup and 361448AU7
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.78 times more return on investment than 361448AU7. However, Citigroup is 1.28 times less risky than 361448AU7. It trades about 0.07 of its potential returns per unit of risk. GATX P 52 is currently generating about -0.02 per unit of risk. If you would invest 4,145 in Citigroup on August 27, 2024 and sell it today you would earn a total of 2,839 from holding Citigroup or generate 68.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 23.59% |
| Values | Daily Returns |
Citigroup vs. GATX P 52
Performance |
| Timeline |
| Citigroup |
| GATX P 52 |
Citigroup and 361448AU7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 361448AU7
The main advantage of trading using opposite Citigroup and 361448AU7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 361448AU7 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 361448AU7 will offset losses from the drop in 361448AU7's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
| 361448AU7 vs. Arrow Electronics | 361448AU7 vs. Lipocine | 361448AU7 vs. Payoneer Global | 361448AU7 vs. Harmony Gold Mining |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |