Correlation Between Citigroup and TAISEM
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By analyzing existing cross correlation between Citigroup and TAISEM 3125 25 OCT 41, you can compare the effects of market volatilities on Citigroup and TAISEM 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 TAISEM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and TAISEM.
Diversification Opportunities for Citigroup and TAISEM
Very good diversification
The 3 months correlation between Citigroup and TAISEM is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and TAISEM 3125 25 OCT 41 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TAISEM 3125 25 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 TAISEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TAISEM 3125 25 has no effect on the direction of Citigroup i.e., Citigroup and TAISEM go up and down completely randomly.
Pair Corralation between Citigroup and TAISEM
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.91 times more return on investment than TAISEM. However, Citigroup is 1.91 times more volatile than TAISEM 3125 25 OCT 41. It trades about 0.06 of its potential returns per unit of risk. TAISEM 3125 25 OCT 41 is currently generating about 0.0 per unit of risk. If you would invest 6,166 in Citigroup on September 3, 2024 and sell it today you would earn a total of 921.00 from holding Citigroup or generate 14.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 63.01% |
| Values | Daily Returns |
Citigroup vs. TAISEM 3125 25 OCT 41
Performance |
| Timeline |
| Citigroup |
| TAISEM 3125 25 |
Citigroup and TAISEM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and TAISEM
The main advantage of trading using opposite Citigroup and TAISEM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, TAISEM 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 TAISEM will offset losses from the drop in TAISEM's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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