Correlation Between Citigroup and 693475BB0
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and PNC 115 13 AUG 26, you can compare the effects of market volatilities on Citigroup and 693475BB0 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 693475BB0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 693475BB0.
Diversification Opportunities for Citigroup and 693475BB0
Very good diversification
The 3 months correlation between Citigroup and 693475BB0 is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and PNC 115 13 AUG 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PNC 115 13 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 693475BB0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PNC 115 13 has no effect on the direction of Citigroup i.e., Citigroup and 693475BB0 go up and down completely randomly.
Pair Corralation between Citigroup and 693475BB0
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.04 times more return on investment than 693475BB0. However, Citigroup is 2.04 times more volatile than PNC 115 13 AUG 26. It trades about 0.21 of its potential returns per unit of risk. PNC 115 13 AUG 26 is currently generating about -0.22 per unit of risk. If you would invest 6,393 in Citigroup on August 31, 2024 and sell it today you would earn a total of 623.00 from holding Citigroup or generate 9.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
Citigroup vs. PNC 115 13 AUG 26
Performance |
| Timeline |
| Citigroup |
| PNC 115 13 |
Citigroup and 693475BB0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 693475BB0
The main advantage of trading using opposite Citigroup and 693475BB0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 693475BB0 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 693475BB0 will offset losses from the drop in 693475BB0's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| 693475BB0 vs. Dolphin Entertainment | 693475BB0 vs. Vita Coco | 693475BB0 vs. Integral Ad Science | 693475BB0 vs. Organic Sales and |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |