Correlation Between Citizens and 59156RCC0
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By analyzing existing cross correlation between Citizens and MET 5 15 JUL 52, you can compare the effects of market volatilities on Citizens and 59156RCC0 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 with a short position of 59156RCC0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens and 59156RCC0.
Diversification Opportunities for Citizens and 59156RCC0
Excellent diversification
The 3 months correlation between Citizens and 59156RCC0 is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Citizens and MET 5 15 JUL 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 59156RCC0 and Citizens 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 are associated (or correlated) with 59156RCC0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 59156RCC0 has no effect on the direction of Citizens i.e., Citizens and 59156RCC0 go up and down completely randomly.
Pair Corralation between Citizens and 59156RCC0
Considering the 90-day investment horizon Citizens is expected to generate 2.66 times more return on investment than 59156RCC0. However, Citizens is 2.66 times more volatile than MET 5 15 JUL 52. It trades about 0.05 of its potential returns per unit of risk. MET 5 15 JUL 52 is currently generating about -0.01 per unit of risk. If you would invest 235.00 in Citizens on September 3, 2024 and sell it today you would earn a total of 213.00 from holding Citizens or generate 90.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 93.94% |
| Values | Daily Returns |
Citizens vs. MET 5 15 JUL 52
Performance |
| Timeline |
| Citizens |
| 59156RCC0 |
Citizens and 59156RCC0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citizens and 59156RCC0
The main advantage of trading using opposite Citizens and 59156RCC0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens position performs unexpectedly, 59156RCC0 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 59156RCC0 will offset losses from the drop in 59156RCC0's long position.| Citizens vs. CNO Financial Group | Citizens vs. Brighthouse Financial | Citizens vs. FG Annuities Life | Citizens vs. Prudential Public Limited |
| 59156RCC0 vs. Citizens | 59156RCC0 vs. Direct Line Insurance | 59156RCC0 vs. Sun Life Financial | 59156RCC0 vs. Pekin Life Insurance |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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