Correlation Between Hunter Creek and CITIGROUP
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By analyzing existing cross correlation between Hunter Creek Mining and CITIGROUP INC 6675, you can compare the effects of market volatilities on Hunter Creek 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 Hunter Creek with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hunter Creek and CITIGROUP.
Diversification Opportunities for Hunter Creek and CITIGROUP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hunter and CITIGROUP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hunter Creek Mining 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 Hunter Creek 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 Hunter Creek Mining 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 Hunter Creek i.e., Hunter Creek and CITIGROUP go up and down completely randomly.
Pair Corralation between Hunter Creek and CITIGROUP
If you would invest 11,257 in CITIGROUP INC 6675 on November 3, 2024 and sell it today you would earn a total of 22.00 from holding CITIGROUP INC 6675 or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 87.2% |
| Values | Daily Returns |
Hunter Creek Mining vs. CITIGROUP INC 6675
Performance |
| Timeline |
| Hunter Creek Mining |
| CITIGROUP INC 6675 |
Hunter Creek and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hunter Creek and CITIGROUP
The main advantage of trading using opposite Hunter Creek and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hunter Creek 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.| Hunter Creek vs. Perseus Mining Limited | Hunter Creek vs. Summit Materials | Hunter Creek vs. ioneer Ltd American | Hunter Creek vs. Harmony Gold Mining |
| 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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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