Correlation Between Radcom and CITIGROUP
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By analyzing existing cross correlation between Radcom and CITIGROUP INC 43, you can compare the effects of market volatilities on Radcom 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 Radcom with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Radcom and CITIGROUP.
Diversification Opportunities for Radcom and CITIGROUP
Very good diversification
The 3 months correlation between Radcom and CITIGROUP is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Radcom and CITIGROUP INC 43 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 43 and Radcom 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 Radcom 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 43 has no effect on the direction of Radcom i.e., Radcom and CITIGROUP go up and down completely randomly.
Pair Corralation between Radcom and CITIGROUP
Given the investment horizon of 90 days Radcom is expected to generate 6.12 times more return on investment than CITIGROUP. However, Radcom is 6.12 times more volatile than CITIGROUP INC 43. It trades about 0.03 of its potential returns per unit of risk. CITIGROUP INC 43 is currently generating about 0.0 per unit of risk. If you would invest 962.00 in Radcom on November 30, 2024 and sell it today you would earn a total of 251.00 from holding Radcom or generate 26.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Radcom vs. CITIGROUP INC 43
Performance |
| Timeline |
| Radcom |
| CITIGROUP INC 43 |
Radcom and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Radcom and CITIGROUP
The main advantage of trading using opposite Radcom and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Radcom 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.| Radcom vs. Shenandoah Telecommunications Co | Radcom vs. Anterix | Radcom vs. SK Telecom Co | Radcom vs. Liberty Broadband Srs |
| CITIGROUP vs. Eddy Smart Home | CITIGROUP vs. Kilroy Realty Corp | CITIGROUP vs. Playstudios | CITIGROUP vs. Boyd Gaming |
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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