Correlation Between Ispire Technology and CITIGROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ispire Technology Common and CITIGROUP INC 55, you can compare the effects of market volatilities on Ispire Technology 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 Ispire Technology with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ispire Technology and CITIGROUP.
Diversification Opportunities for Ispire Technology and CITIGROUP
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Ispire and CITIGROUP is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Ispire Technology Common 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 Ispire Technology 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 Ispire Technology Common 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 Ispire Technology i.e., Ispire Technology and CITIGROUP go up and down completely randomly.
Pair Corralation between Ispire Technology and CITIGROUP
Given the investment horizon of 90 days Ispire Technology Common is expected to generate 14.44 times more return on investment than CITIGROUP. However, Ispire Technology is 14.44 times more volatile than CITIGROUP INC 55. It trades about 0.02 of its potential returns per unit of risk. CITIGROUP INC 55 is currently generating about -0.01 per unit of risk. If you would invest 755.00 in Ispire Technology Common on September 12, 2024 and sell it today you would lose (149.00) from holding Ispire Technology Common or give up 19.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 86.41% |
| Values | Daily Returns |
Ispire Technology Common vs. CITIGROUP INC 55
Performance |
| Timeline |
| Ispire Technology Common |
| CITIGROUP INC 55 |
Ispire Technology and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ispire Technology and CITIGROUP
The main advantage of trading using opposite Ispire Technology and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ispire Technology 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.| Ispire Technology vs. Chewy Inc | Ispire Technology vs. Simon Property Group | Ispire Technology vs. Radcom | Ispire Technology vs. Revolve Group LLC |
| CITIGROUP vs. AMCON Distributing | CITIGROUP vs. Vindicator Silver Lead Mining | CITIGROUP vs. Lion One Metals | CITIGROUP vs. Highway Holdings Limited |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |