Correlation Between Citigroup and 548661EK9
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and LOW 44 08 SEP 25, you can compare the effects of market volatilities on Citigroup and 548661EK9 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 548661EK9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 548661EK9.
Diversification Opportunities for Citigroup and 548661EK9
Pay attention - limited upside
The 3 months correlation between Citigroup and 548661EK9 is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and LOW 44 08 SEP 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOW 44 08 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 548661EK9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOW 44 08 has no effect on the direction of Citigroup i.e., Citigroup and 548661EK9 go up and down completely randomly.
Pair Corralation between Citigroup and 548661EK9
Taking into account the 90-day investment horizon Citigroup is expected to generate 3.87 times more return on investment than 548661EK9. However, Citigroup is 3.87 times more volatile than LOW 44 08 SEP 25. It trades about 0.07 of its potential returns per unit of risk. LOW 44 08 SEP 25 is currently generating about 0.0 per unit of risk. If you would invest 6,064 in Citigroup on September 3, 2024 and sell it today you would earn a total of 1,023 from holding Citigroup or generate 16.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.4% |
| Values | Daily Returns |
Citigroup vs. LOW 44 08 SEP 25
Performance |
| Timeline |
| Citigroup |
| LOW 44 08 |
Citigroup and 548661EK9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 548661EK9
The main advantage of trading using opposite Citigroup and 548661EK9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 548661EK9 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 548661EK9 will offset losses from the drop in 548661EK9's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 548661EK9 vs. AEP TEX INC | 548661EK9 vs. US BANK NATIONAL | 548661EK9 vs. MetLife | 548661EK9 vs. Brera Holdings PLC |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |