Correlation Between Citigroup and LLOYDS
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By analyzing existing cross correlation between Citigroup and LLOYDS 4716 11 AUG 26, you can compare the effects of market volatilities on Citigroup and LLOYDS 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 LLOYDS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and LLOYDS.
Diversification Opportunities for Citigroup and LLOYDS
Very good diversification
The 3 months correlation between Citigroup and LLOYDS is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and LLOYDS 4716 11 AUG 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LLOYDS 4716 11 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 LLOYDS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LLOYDS 4716 11 has no effect on the direction of Citigroup i.e., Citigroup and LLOYDS go up and down completely randomly.
Pair Corralation between Citigroup and LLOYDS
Taking into account the 90-day investment horizon Citigroup is expected to generate 3.18 times more return on investment than LLOYDS. However, Citigroup is 3.18 times more volatile than LLOYDS 4716 11 AUG 26. It trades about 0.32 of its potential returns per unit of risk. LLOYDS 4716 11 AUG 26 is currently generating about -0.23 per unit of risk. If you would invest 6,235 in Citigroup on September 3, 2024 and sell it today you would earn a total of 852.00 from holding Citigroup or generate 13.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 85.0% |
| Values | Daily Returns |
Citigroup vs. LLOYDS 4716 11 AUG 26
Performance |
| Timeline |
| Citigroup |
| LLOYDS 4716 11 |
Citigroup and LLOYDS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and LLOYDS
The main advantage of trading using opposite Citigroup and LLOYDS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, LLOYDS 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 LLOYDS will offset losses from the drop in LLOYDS's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| LLOYDS vs. RCI Hospitality Holdings | LLOYDS vs. Dennys Corp | LLOYDS vs. MACOM Technology Solutions | LLOYDS vs. Vishay Intertechnology |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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