Correlation Between Citigroup and 88579YBC4
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and 3M 3625 percent, you can compare the effects of market volatilities on Citigroup and 88579YBC4 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 88579YBC4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 88579YBC4.
Diversification Opportunities for Citigroup and 88579YBC4
Pay attention - limited upside
The 3 months correlation between Citigroup and 88579YBC4 is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and 3M 3625 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 3M 3625 percent 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 88579YBC4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 3M 3625 percent has no effect on the direction of Citigroup i.e., Citigroup and 88579YBC4 go up and down completely randomly.
Pair Corralation between Citigroup and 88579YBC4
Taking into account the 90-day investment horizon Citigroup is expected to generate 5.35 times more return on investment than 88579YBC4. However, Citigroup is 5.35 times more volatile than 3M 3625 percent. It trades about 0.07 of its potential returns per unit of risk. 3M 3625 percent is currently generating about 0.01 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 Against |
Strength | Significant |
Accuracy | 94.44% |
Values | Daily Returns |
Citigroup vs. 3M 3625 percent
Performance |
Timeline |
Citigroup |
3M 3625 percent |
Citigroup and 88579YBC4 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and 88579YBC4
The main advantage of trading using opposite Citigroup and 88579YBC4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 88579YBC4 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 88579YBC4 will offset losses from the drop in 88579YBC4's long position.Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
88579YBC4 vs. Encore Capital Group | 88579YBC4 vs. KVH Industries | 88579YBC4 vs. Freedom Bank of | 88579YBC4 vs. Commonwealth Bank of |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |