Correlation Between Citigroup and 686330AJ0
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By analyzing existing cross correlation between Citigroup and ORIX P 37, you can compare the effects of market volatilities on Citigroup and 686330AJ0 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 686330AJ0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 686330AJ0.
Diversification Opportunities for Citigroup and 686330AJ0
Modest diversification
The 3 months correlation between Citigroup and 686330AJ0 is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and ORIX P 37 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ORIX P 37 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 686330AJ0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ORIX P 37 has no effect on the direction of Citigroup i.e., Citigroup and 686330AJ0 go up and down completely randomly.
Pair Corralation between Citigroup and 686330AJ0
Taking into account the 90-day investment horizon Citigroup is expected to under-perform the 686330AJ0. In addition to that, Citigroup is 5.18 times more volatile than ORIX P 37. It trades about -0.02 of its total potential returns per unit of risk. ORIX P 37 is currently generating about -0.11 per unit of volatility. If you would invest 9,757 in ORIX P 37 on November 27, 2024 and sell it today you would lose (35.00) from holding ORIX P 37 or give up 0.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 50.0% |
| Values | Daily Returns |
Citigroup vs. ORIX P 37
Performance |
| Timeline |
| Citigroup |
| ORIX P 37 |
Citigroup and 686330AJ0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 686330AJ0
The main advantage of trading using opposite Citigroup and 686330AJ0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 686330AJ0 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 686330AJ0 will offset losses from the drop in 686330AJ0's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 686330AJ0 vs. Lincoln Educational Services | 686330AJ0 vs. WEBTOON Entertainment Common | 686330AJ0 vs. Deluxe | 686330AJ0 vs. National CineMedia |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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