Correlation Between Citigroup and 37940XAQ5
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By analyzing existing cross correlation between Citigroup and GPN 54 15 AUG 32, you can compare the effects of market volatilities on Citigroup and 37940XAQ5 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 37940XAQ5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 37940XAQ5.
Diversification Opportunities for Citigroup and 37940XAQ5
Pay attention - limited upside
The 3 months correlation between Citigroup and 37940XAQ5 is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and GPN 54 15 AUG 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GPN 54 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 37940XAQ5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GPN 54 15 has no effect on the direction of Citigroup i.e., Citigroup and 37940XAQ5 go up and down completely randomly.
Pair Corralation between Citigroup and 37940XAQ5
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.34 times more return on investment than 37940XAQ5. However, Citigroup is 1.34 times more volatile than GPN 54 15 AUG 32. It trades about 0.18 of its potential returns per unit of risk. GPN 54 15 AUG 32 is currently generating about -0.19 per unit of risk. If you would invest 5,985 in Citigroup on August 26, 2024 and sell it today you would earn a total of 999.00 from holding Citigroup or generate 16.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citigroup vs. GPN 54 15 AUG 32
Performance |
| Timeline |
| Citigroup |
| GPN 54 15 |
Citigroup and 37940XAQ5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 37940XAQ5
The main advantage of trading using opposite Citigroup and 37940XAQ5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 37940XAQ5 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 37940XAQ5 will offset losses from the drop in 37940XAQ5's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
| 37940XAQ5 vs. Naked Wines plc | 37940XAQ5 vs. Brandywine Realty Trust | 37940XAQ5 vs. Esperion Therapeutics | 37940XAQ5 vs. Alvotech |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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