Correlation Between Mativ Holdings and CITIGROUP
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By analyzing existing cross correlation between Mativ Holdings and CITIGROUP INC 6675, you can compare the effects of market volatilities on Mativ Holdings 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 Mativ Holdings with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mativ Holdings and CITIGROUP.
Diversification Opportunities for Mativ Holdings and CITIGROUP
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mativ and CITIGROUP is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Mativ Holdings 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 Mativ Holdings 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 Mativ Holdings 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 Mativ Holdings i.e., Mativ Holdings and CITIGROUP go up and down completely randomly.
Pair Corralation between Mativ Holdings and CITIGROUP
Given the investment horizon of 90 days Mativ Holdings is expected to generate 4.87 times more return on investment than CITIGROUP. However, Mativ Holdings is 4.87 times more volatile than CITIGROUP INC 6675. It trades about 0.01 of its potential returns per unit of risk. CITIGROUP INC 6675 is currently generating about -0.01 per unit of risk. If you would invest 1,359 in Mativ Holdings on September 12, 2024 and sell it today you would lose (165.00) from holding Mativ Holdings or give up 12.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 89.11% |
| Values | Daily Returns |
Mativ Holdings vs. CITIGROUP INC 6675
Performance |
| Timeline |
| Mativ Holdings |
| CITIGROUP INC 6675 |
Mativ Holdings and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mativ Holdings and CITIGROUP
The main advantage of trading using opposite Mativ Holdings and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mativ Holdings 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.| Mativ Holdings vs. Orion Engineered Carbons | Mativ Holdings vs. Select Energy Services | Mativ Holdings vs. Perimeter Solutions SA | Mativ Holdings vs. FutureFuel Corp |
| CITIGROUP vs. Mativ Holdings | CITIGROUP vs. Addus HomeCare | CITIGROUP vs. Chemours Co | CITIGROUP vs. Hudson Technologies |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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