Correlation Between Citigroup and TOYOTA
Specify exactly 2 symbols:
By analyzing existing cross correlation between Citigroup and TOYOTA 1125 18 JUN 26, you can compare the effects of market volatilities on Citigroup and TOYOTA 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 TOYOTA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and TOYOTA.
Diversification Opportunities for Citigroup and TOYOTA
Modest diversification
The 3 months correlation between Citigroup and TOYOTA is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and TOYOTA 1125 18 JUN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TOYOTA 1125 18 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 TOYOTA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TOYOTA 1125 18 has no effect on the direction of Citigroup i.e., Citigroup and TOYOTA go up and down completely randomly.
Pair Corralation between Citigroup and TOYOTA
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.05 times more return on investment than TOYOTA. However, Citigroup is 1.05 times more volatile than TOYOTA 1125 18 JUN 26. It trades about -0.04 of its potential returns per unit of risk. TOYOTA 1125 18 JUN 26 is currently generating about -0.2 per unit of risk. If you would invest 8,051 in Citigroup on November 28, 2024 and sell it today you would lose (144.00) from holding Citigroup or give up 1.79% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. TOYOTA 1125 18 JUN 26
Performance |
| Timeline |
| Citigroup |
| TOYOTA 1125 18 |
Citigroup and TOYOTA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and TOYOTA
The main advantage of trading using opposite Citigroup and TOYOTA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, TOYOTA 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 TOYOTA will offset losses from the drop in TOYOTA's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| TOYOTA vs. Broadstone Net Lease | TOYOTA vs. Motorsport Gaming Us | TOYOTA vs. Mitsubishi UFJ Lease | TOYOTA vs. Triton International Limited |
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
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |