Correlation Between Fernhill Beverage and CITIGROUP
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By analyzing existing cross correlation between Fernhill Beverage and CITIGROUP INC 55, you can compare the effects of market volatilities on Fernhill Beverage 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 Fernhill Beverage with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fernhill Beverage and CITIGROUP.
Diversification Opportunities for Fernhill Beverage and CITIGROUP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fernhill and CITIGROUP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fernhill Beverage and CITIGROUP INC 55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 55 and Fernhill Beverage 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 Fernhill Beverage 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 55 has no effect on the direction of Fernhill Beverage i.e., Fernhill Beverage and CITIGROUP go up and down completely randomly.
Pair Corralation between Fernhill Beverage and CITIGROUP
If you would invest 0.01 in Fernhill Beverage on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Fernhill Beverage or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.4% |
| Values | Daily Returns |
Fernhill Beverage vs. CITIGROUP INC 55
Performance |
| Timeline |
| Fernhill Beverage |
| CITIGROUP INC 55 |
Fernhill Beverage and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fernhill Beverage and CITIGROUP
The main advantage of trading using opposite Fernhill Beverage and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fernhill Beverage 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.| Fernhill Beverage vs. Monster Beverage Corp | Fernhill Beverage vs. Vita Coco | Fernhill Beverage vs. PepsiCo | Fernhill Beverage vs. The Coca Cola |
| CITIGROUP vs. Harmony Gold Mining | CITIGROUP vs. Boyd Gaming | CITIGROUP vs. Lion One Metals | CITIGROUP vs. Amkor Technology |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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