Correlation Between Pinterest and CITIGROUP
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By analyzing existing cross correlation between Pinterest and CITIGROUP INC 55, you can compare the effects of market volatilities on Pinterest 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 Pinterest with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pinterest and CITIGROUP.
Diversification Opportunities for Pinterest and CITIGROUP
Good diversification
The 3 months correlation between Pinterest and CITIGROUP is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Pinterest 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 Pinterest 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 Pinterest 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 Pinterest i.e., Pinterest and CITIGROUP go up and down completely randomly.
Pair Corralation between Pinterest and CITIGROUP
Given the investment horizon of 90 days Pinterest is expected to generate 6.93 times more return on investment than CITIGROUP. However, Pinterest is 6.93 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 2,644 in Pinterest on September 3, 2024 and sell it today you would earn a total of 388.00 from holding Pinterest or generate 14.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Pinterest vs. CITIGROUP INC 55
Performance |
| Timeline |
| CITIGROUP INC 55 |
Pinterest and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pinterest and CITIGROUP
The main advantage of trading using opposite Pinterest and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pinterest 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.| Pinterest vs. Twilio Inc | Pinterest vs. Meta Platforms | Pinterest vs. Alphabet Inc Class C | Pinterest vs. Alphabet Inc Class A |
| 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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