Correlation Between Citigroup and INTEL
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By analyzing existing cross correlation between Citigroup and INTEL PORATION, you can compare the effects of market volatilities on Citigroup and INTEL 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 INTEL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and INTEL.
Diversification Opportunities for Citigroup and INTEL
Significant diversification
The 3 months correlation between Citigroup and INTEL is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and INTEL PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTEL PORATION 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 INTEL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTEL PORATION has no effect on the direction of Citigroup i.e., Citigroup and INTEL go up and down completely randomly.
Pair Corralation between Citigroup and INTEL
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.57 times less return on investment than INTEL. But when comparing it to its historical volatility, Citigroup is 1.19 times less risky than INTEL. It trades about 0.23 of its potential returns per unit of risk. INTEL PORATION is currently generating about 0.3 of returns per unit of risk over similar time horizon. If you would invest 8,154 in INTEL PORATION on August 27, 2024 and sell it today you would earn a total of 1,296 from holding INTEL PORATION or generate 15.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. INTEL PORATION
Performance |
| Timeline |
| Citigroup |
| INTEL PORATION |
Citigroup and INTEL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and INTEL
The main advantage of trading using opposite Citigroup and INTEL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, INTEL 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 INTEL will offset losses from the drop in INTEL's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. HSBC Holdings PLC | Citigroup vs. Bank of Montreal |
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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