Correlation Between Dupont De and CITIGROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Dupont De Nemours and CITIGROUP INC 6675, you can compare the effects of market volatilities on Dupont De and CITIGROUP 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 Dupont De with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and CITIGROUP.
Diversification Opportunities for Dupont De and CITIGROUP
Very weak diversification
The 3 months correlation between Dupont and CITIGROUP is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and CITIGROUP INC 6675 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 6675 and Dupont De 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 Dupont De Nemours are associated (or correlated) with CITIGROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIGROUP INC 6675 has no effect on the direction of Dupont De i.e., Dupont De and CITIGROUP go up and down completely randomly.
Pair Corralation between Dupont De and CITIGROUP
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to generate 1.44 times more return on investment than CITIGROUP. However, Dupont De is 1.44 times more volatile than CITIGROUP INC 6675. It trades about 0.06 of its potential returns per unit of risk. CITIGROUP INC 6675 is currently generating about 0.01 per unit of risk. If you would invest 6,521 in Dupont De Nemours on November 3, 2024 and sell it today you would earn a total of 1,159 from holding Dupont De Nemours or generate 17.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 87.9% |
| Values | Daily Returns |
Dupont De Nemours vs. CITIGROUP INC 6675
Performance |
| Timeline |
| Dupont De Nemours |
| CITIGROUP INC 6675 |
Dupont De and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and CITIGROUP
The main advantage of trading using opposite Dupont De and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, CITIGROUP 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 CITIGROUP will offset losses from the drop in CITIGROUP's long position.| Dupont De vs. Eastman Chemical | Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide |
| CITIGROUP vs. Integrated Media Technology | CITIGROUP vs. Emerson Radio | CITIGROUP vs. Kulicke and Soffa | CITIGROUP vs. NETGEAR |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |