Correlation Between Citigroup and HYATT
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By analyzing existing cross correlation between Citigroup and HYATT HOTELS P, you can compare the effects of market volatilities on Citigroup and HYATT 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 HYATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and HYATT.
Diversification Opportunities for Citigroup and HYATT
Excellent diversification
The 3 months correlation between Citigroup and HYATT is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and HYATT HOTELS P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HYATT HOTELS P 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 HYATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HYATT HOTELS P has no effect on the direction of Citigroup i.e., Citigroup and HYATT go up and down completely randomly.
Pair Corralation between Citigroup and HYATT
If you would invest 6,315 in Citigroup on September 2, 2024 and sell it today you would earn a total of 772.00 from holding Citigroup or generate 12.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
Citigroup vs. HYATT HOTELS P
Performance |
| Timeline |
| Citigroup |
| HYATT HOTELS P |
Citigroup and HYATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and HYATT
The main advantage of trading using opposite Citigroup and HYATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, HYATT 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 HYATT will offset losses from the drop in HYATT's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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