Correlation Between Citigroup and Vitamin Blue
Can any of the company-specific risk be diversified away by investing in both Citigroup and Vitamin Blue at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Citigroup and Vitamin Blue into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Vitamin Blue, you can compare the effects of market volatilities on Citigroup and Vitamin Blue 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 Vitamin Blue. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Vitamin Blue.
Diversification Opportunities for Citigroup and Vitamin Blue
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Vitamin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Vitamin Blue in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vitamin Blue 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 Vitamin Blue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vitamin Blue has no effect on the direction of Citigroup i.e., Citigroup and Vitamin Blue go up and down completely randomly.
Pair Corralation between Citigroup and Vitamin Blue
If you would invest 6,315 in Citigroup on September 2, 2024 and sell it today you would earn a total of 772.00 from holding Citigroup or generate 12.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Vitamin Blue
Performance |
| Timeline |
| Citigroup |
| Vitamin Blue |
Citigroup and Vitamin Blue Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Vitamin Blue
The main advantage of trading using opposite Citigroup and Vitamin Blue positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Vitamin Blue 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 Vitamin Blue will offset losses from the drop in Vitamin Blue's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Vitamin Blue vs. Papaya Growth Opportunity | Vitamin Blue vs. Ecovyst | Vitamin Blue vs. Stepan Company | Vitamin Blue vs. Electrovaya Common Shares |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |