Correlation Between Disney and CITIGROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Walt Disney and CITIGROUP INC, you can compare the effects of market volatilities on Disney 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 Disney with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Disney and CITIGROUP.
Diversification Opportunities for Disney and CITIGROUP
Pay attention - limited upside
The 3 months correlation between Disney and CITIGROUP is -0.91. Overlapping area represents the amount of risk that can be diversified away by holding Walt Disney and CITIGROUP INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC and Disney 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 Walt Disney 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 has no effect on the direction of Disney i.e., Disney and CITIGROUP go up and down completely randomly.
Pair Corralation between Disney and CITIGROUP
Considering the 90-day investment horizon Walt Disney is expected to generate 2.62 times more return on investment than CITIGROUP. However, Disney is 2.62 times more volatile than CITIGROUP INC. It trades about 0.27 of its potential returns per unit of risk. CITIGROUP INC is currently generating about -0.23 per unit of risk. If you would invest 9,601 in Walt Disney on August 28, 2024 and sell it today you would earn a total of 1,944 from holding Walt Disney or generate 20.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.35% |
| Values | Daily Returns |
Walt Disney vs. CITIGROUP INC
Performance |
| Timeline |
| Walt Disney |
| CITIGROUP INC |
Disney and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Disney and CITIGROUP
The main advantage of trading using opposite Disney and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Disney 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.| Disney vs. Roku Inc | Disney vs. AMC Entertainment Holdings | Disney vs. Paramount Global Class | Disney vs. Warner Bros Discovery |
| CITIGROUP vs. Cheniere Energy Partners | CITIGROUP vs. Dalata Hotel Group | CITIGROUP vs. Boyd Gaming | CITIGROUP vs. CenterPoint Energy |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Stocks Directory Find actively traded stocks across global markets | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |