Correlation Between Citigroup and OCPMR
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By analyzing existing cross correlation between Citigroup and OCPMR 45 22 OCT 25, you can compare the effects of market volatilities on Citigroup and OCPMR 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 OCPMR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and OCPMR.
Diversification Opportunities for Citigroup and OCPMR
Poor diversification
The 3 months correlation between Citigroup and OCPMR is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and OCPMR 45 22 OCT 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OCPMR 45 22 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 OCPMR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OCPMR 45 22 has no effect on the direction of Citigroup i.e., Citigroup and OCPMR go up and down completely randomly.
Pair Corralation between Citigroup and OCPMR
Taking into account the 90-day investment horizon Citigroup is expected to generate 7.0 times more return on investment than OCPMR. However, Citigroup is 7.0 times more volatile than OCPMR 45 22 OCT 25. It trades about 0.07 of its potential returns per unit of risk. OCPMR 45 22 OCT 25 is currently generating about 0.16 per unit of risk. If you would invest 6,079 in Citigroup on September 1, 2024 and sell it today you would earn a total of 1,008 from holding Citigroup or generate 16.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 26.98% |
| Values | Daily Returns |
Citigroup vs. OCPMR 45 22 OCT 25
Performance |
| Timeline |
| Citigroup |
| OCPMR 45 22 |
Citigroup and OCPMR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and OCPMR
The main advantage of trading using opposite Citigroup and OCPMR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, OCPMR 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 OCPMR will offset losses from the drop in OCPMR's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| OCPMR vs. Four Seasons Education | OCPMR vs. Afya | OCPMR vs. FormFactor | OCPMR vs. Zane Interactive Publishing |
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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