Correlation Between Citi Trends and 69352PAC7
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By analyzing existing cross correlation between Citi Trends and PPL 739486 30 MAR 67, you can compare the effects of market volatilities on Citi Trends and 69352PAC7 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 Citi Trends with a short position of 69352PAC7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citi Trends and 69352PAC7.
Diversification Opportunities for Citi Trends and 69352PAC7
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citi and 69352PAC7 is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Citi Trends and PPL 739486 30 MAR 67 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PPL 739486 30 and Citi Trends 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 Citi Trends are associated (or correlated) with 69352PAC7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PPL 739486 30 has no effect on the direction of Citi Trends i.e., Citi Trends and 69352PAC7 go up and down completely randomly.
Pair Corralation between Citi Trends and 69352PAC7
Given the investment horizon of 90 days Citi Trends is expected to generate 2.69 times more return on investment than 69352PAC7. However, Citi Trends is 2.69 times more volatile than PPL 739486 30 MAR 67. It trades about 0.4 of its potential returns per unit of risk. PPL 739486 30 MAR 67 is currently generating about -0.2 per unit of risk. If you would invest 1,700 in Citi Trends on September 15, 2024 and sell it today you would earn a total of 778.00 from holding Citi Trends or generate 45.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citi Trends vs. PPL 739486 30 MAR 67
Performance |
| Timeline |
| Citi Trends |
| PPL 739486 30 |
Citi Trends and 69352PAC7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citi Trends and 69352PAC7
The main advantage of trading using opposite Citi Trends and 69352PAC7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citi Trends position performs unexpectedly, 69352PAC7 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 69352PAC7 will offset losses from the drop in 69352PAC7's long position.| Citi Trends vs. Capri Holdings | Citi Trends vs. Movado Group | Citi Trends vs. Tapestry | Citi Trends vs. Brilliant Earth Group |
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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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