Correlation Between Citigroup and 44644MAH4
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By analyzing existing cross correlation between Citigroup and HBAN 5699 18 NOV 25, you can compare the effects of market volatilities on Citigroup and 44644MAH4 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 44644MAH4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 44644MAH4.
Diversification Opportunities for Citigroup and 44644MAH4
Good diversification
The 3 months correlation between Citigroup and 44644MAH4 is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and HBAN 5699 18 NOV 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HBAN 5699 18 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 44644MAH4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HBAN 5699 18 has no effect on the direction of Citigroup i.e., Citigroup and 44644MAH4 go up and down completely randomly.
Pair Corralation between Citigroup and 44644MAH4
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.23 times more return on investment than 44644MAH4. However, Citigroup is 1.23 times more volatile than HBAN 5699 18 NOV 25. It trades about 0.21 of its potential returns per unit of risk. HBAN 5699 18 NOV 25 is currently generating about 0.08 per unit of risk. If you would invest 6,393 in Citigroup on August 31, 2024 and sell it today you would earn a total of 623.00 from holding Citigroup or generate 9.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 27.27% |
| Values | Daily Returns |
Citigroup vs. HBAN 5699 18 NOV 25
Performance |
| Timeline |
| Citigroup |
| HBAN 5699 18 |
Citigroup and 44644MAH4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 44644MAH4
The main advantage of trading using opposite Citigroup and 44644MAH4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 44644MAH4 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 44644MAH4 will offset losses from the drop in 44644MAH4's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 44644MAH4 vs. Magnite | 44644MAH4 vs. WPP PLC ADR | 44644MAH4 vs. NioCorp Developments Ltd | 44644MAH4 vs. Integral Ad Science |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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