Correlation Between Citigroup and 44107TAV8
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and HOST HOTELS RESORTS, you can compare the effects of market volatilities on Citigroup and 44107TAV8 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 44107TAV8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 44107TAV8.
Diversification Opportunities for Citigroup and 44107TAV8
Good diversification
The 3 months correlation between Citigroup and 44107TAV8 is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and HOST HOTELS RESORTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HOST HOTELS RESORTS 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 44107TAV8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HOST HOTELS RESORTS has no effect on the direction of Citigroup i.e., Citigroup and 44107TAV8 go up and down completely randomly.
Pair Corralation between Citigroup and 44107TAV8
Taking into account the 90-day investment horizon Citigroup is expected to generate 6.59 times more return on investment than 44107TAV8. However, Citigroup is 6.59 times more volatile than HOST HOTELS RESORTS. It trades about 0.11 of its potential returns per unit of risk. HOST HOTELS RESORTS is currently generating about 0.02 per unit of risk. If you would invest 4,642 in Citigroup on September 4, 2024 and sell it today you would earn a total of 2,500 from holding Citigroup or generate 53.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 87.85% |
| Values | Daily Returns |
Citigroup vs. HOST HOTELS RESORTS
Performance |
| Timeline |
| Citigroup |
| HOST HOTELS RESORTS |
Citigroup and 44107TAV8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 44107TAV8
The main advantage of trading using opposite Citigroup and 44107TAV8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 44107TAV8 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 44107TAV8 will offset losses from the drop in 44107TAV8's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 44107TAV8 vs. Mannatech Incorporated | 44107TAV8 vs. Amkor Technology | 44107TAV8 vs. Inter Parfums | 44107TAV8 vs. Virgin Group Acquisition |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |