Correlation Between Citizens Bancorp and 001192AH6
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By analyzing existing cross correlation between Citizens Bancorp Investment and AGL CAP P, you can compare the effects of market volatilities on Citizens Bancorp and 001192AH6 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 Citizens Bancorp with a short position of 001192AH6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens Bancorp and 001192AH6.
Diversification Opportunities for Citizens Bancorp and 001192AH6
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Citizens and 001192AH6 is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Citizens Bancorp Investment and AGL CAP P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGL CAP P and Citizens Bancorp 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 Citizens Bancorp Investment are associated (or correlated) with 001192AH6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGL CAP P has no effect on the direction of Citizens Bancorp i.e., Citizens Bancorp and 001192AH6 go up and down completely randomly.
Pair Corralation between Citizens Bancorp and 001192AH6
Given the investment horizon of 90 days Citizens Bancorp Investment is expected to generate 1.24 times more return on investment than 001192AH6. However, Citizens Bancorp is 1.24 times more volatile than AGL CAP P. It trades about 0.4 of its potential returns per unit of risk. AGL CAP P is currently generating about -0.25 per unit of risk. If you would invest 2,200 in Citizens Bancorp Investment on September 3, 2024 and sell it today you would earn a total of 300.00 from holding Citizens Bancorp Investment or generate 13.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 55.0% |
| Values | Daily Returns |
Citizens Bancorp Investment vs. AGL CAP P
Performance |
| Timeline |
| Citizens Bancorp Inv |
| AGL CAP P |
Citizens Bancorp and 001192AH6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citizens Bancorp and 001192AH6
The main advantage of trading using opposite Citizens Bancorp and 001192AH6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens Bancorp position performs unexpectedly, 001192AH6 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 001192AH6 will offset losses from the drop in 001192AH6's long position.| Citizens Bancorp vs. Greenville Federal Financial | Citizens Bancorp vs. First Ottawa Bancshares | Citizens Bancorp vs. Coastal Carolina Bancshares | Citizens Bancorp vs. First Bankers Trustshares |
| 001192AH6 vs. The Gap, | 001192AH6 vs. Shoe Carnival | 001192AH6 vs. Ispire Technology Common | 001192AH6 vs. Molson Coors Brewing |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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