Correlation Between Femasys and CITIGROUP
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By analyzing existing cross correlation between Femasys and CITIGROUP INC 32, you can compare the effects of market volatilities on Femasys 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 Femasys with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Femasys and CITIGROUP.
Diversification Opportunities for Femasys and CITIGROUP
Significant diversification
The 3 months correlation between Femasys and CITIGROUP is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Femasys and CITIGROUP INC 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 32 and Femasys 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 Femasys 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 32 has no effect on the direction of Femasys i.e., Femasys and CITIGROUP go up and down completely randomly.
Pair Corralation between Femasys and CITIGROUP
Given the investment horizon of 90 days Femasys is not expected to generate positive returns. Moreover, Femasys is 16.46 times more volatile than CITIGROUP INC 32. It trades away all of its potential returns to assume current level of volatility. CITIGROUP INC 32 is currently generating about 0.0 per unit of risk. If you would invest 9,507 in CITIGROUP INC 32 on September 3, 2024 and sell it today you would lose (1.00) from holding CITIGROUP INC 32 or give up 0.01% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.32% |
| Values | Daily Returns |
Femasys vs. CITIGROUP INC 32
Performance |
| Timeline |
| Femasys |
| CITIGROUP INC 32 |
Femasys and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Femasys and CITIGROUP
The main advantage of trading using opposite Femasys and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Femasys 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.| Femasys vs. Precision Optics, | Femasys vs. Repro Med Systems | Femasys vs. InfuSystems Holdings | Femasys vs. Utah Medical Products |
| CITIGROUP vs. AEP TEX INC | CITIGROUP vs. US BANK NATIONAL | CITIGROUP vs. Jackson Financial | CITIGROUP vs. MetLife |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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