Correlation Between Citigroup and HLNLN
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By analyzing existing cross correlation between Citigroup and HLNLN 3375 24 MAR 27, you can compare the effects of market volatilities on Citigroup and HLNLN 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 HLNLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and HLNLN.
Diversification Opportunities for Citigroup and HLNLN
Very weak diversification
The 3 months correlation between Citigroup and HLNLN is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and HLNLN 3375 24 MAR 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HLNLN 3375 24 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 HLNLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HLNLN 3375 24 has no effect on the direction of Citigroup i.e., Citigroup and HLNLN go up and down completely randomly.
Pair Corralation between Citigroup and HLNLN
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.53 times more return on investment than HLNLN. However, Citigroup is 2.53 times more volatile than HLNLN 3375 24 MAR 27. It trades about 0.45 of its potential returns per unit of risk. HLNLN 3375 24 MAR 27 is currently generating about -0.22 per unit of risk. If you would invest 6,994 in Citigroup on November 2, 2024 and sell it today you would earn a total of 1,226 from holding Citigroup or generate 17.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 80.0% |
| Values | Daily Returns |
Citigroup vs. HLNLN 3375 24 MAR 27
Performance |
| Timeline |
| Citigroup |
| HLNLN 3375 24 |
Citigroup and HLNLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and HLNLN
The main advantage of trading using opposite Citigroup and HLNLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, HLNLN 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 HLNLN will offset losses from the drop in HLNLN's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| HLNLN vs. ANTA Sports Products | HLNLN vs. Academy Sports Outdoors | HLNLN vs. Shenzhen Investment Holdings | HLNLN vs. Sun Life Financial |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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