Correlation Between Monopar Therapeutics and CITIGROUP
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By analyzing existing cross correlation between Monopar Therapeutics and CITIGROUP INC, you can compare the effects of market volatilities on Monopar Therapeutics 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 Monopar Therapeutics with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Monopar Therapeutics and CITIGROUP.
Diversification Opportunities for Monopar Therapeutics and CITIGROUP
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Monopar and CITIGROUP is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Monopar Therapeutics and CITIGROUP INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC and Monopar Therapeutics 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 Monopar Therapeutics 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 has no effect on the direction of Monopar Therapeutics i.e., Monopar Therapeutics and CITIGROUP go up and down completely randomly.
Pair Corralation between Monopar Therapeutics and CITIGROUP
Given the investment horizon of 90 days Monopar Therapeutics is expected to generate 17.87 times more return on investment than CITIGROUP. However, Monopar Therapeutics is 17.87 times more volatile than CITIGROUP INC. It trades about 0.4 of its potential returns per unit of risk. CITIGROUP INC is currently generating about -0.21 per unit of risk. If you would invest 2,200 in Monopar Therapeutics on November 1, 2024 and sell it today you would earn a total of 2,050 from holding Monopar Therapeutics or generate 93.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Monopar Therapeutics vs. CITIGROUP INC
Performance |
| Timeline |
| Monopar Therapeutics |
| CITIGROUP INC |
Monopar Therapeutics and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Monopar Therapeutics and CITIGROUP
The main advantage of trading using opposite Monopar Therapeutics and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Monopar Therapeutics 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.| Monopar Therapeutics vs. Anebulo Pharmaceuticals | Monopar Therapeutics vs. Acrivon Therapeutics, Common | Monopar Therapeutics vs. Pmv Pharmaceuticals | Monopar Therapeutics vs. Molecular Partners AG |
| CITIGROUP vs. Saia Inc | CITIGROUP vs. Ralph Lauren Corp | CITIGROUP vs. Tapestry | CITIGROUP vs. TFI International |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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