Correlation Between Ryman Hospitality and CITIGROUP
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By analyzing existing cross correlation between Ryman Hospitality Properties and CITIGROUP INC 6625, you can compare the effects of market volatilities on Ryman Hospitality 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 Ryman Hospitality with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ryman Hospitality and CITIGROUP.
Diversification Opportunities for Ryman Hospitality and CITIGROUP
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ryman and CITIGROUP is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Ryman Hospitality Properties and CITIGROUP INC 6625 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 6625 and Ryman Hospitality 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 Ryman Hospitality Properties 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 6625 has no effect on the direction of Ryman Hospitality i.e., Ryman Hospitality and CITIGROUP go up and down completely randomly.
Pair Corralation between Ryman Hospitality and CITIGROUP
Considering the 90-day investment horizon Ryman Hospitality Properties is expected to generate 1.71 times more return on investment than CITIGROUP. However, Ryman Hospitality is 1.71 times more volatile than CITIGROUP INC 6625. It trades about 0.07 of its potential returns per unit of risk. CITIGROUP INC 6625 is currently generating about 0.01 per unit of risk. If you would invest 10,303 in Ryman Hospitality Properties on September 3, 2024 and sell it today you would earn a total of 1,421 from holding Ryman Hospitality Properties or generate 13.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.32% |
| Values | Daily Returns |
Ryman Hospitality Properties vs. CITIGROUP INC 6625
Performance |
| Timeline |
| Ryman Hospitality |
| CITIGROUP INC 6625 |
Ryman Hospitality and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ryman Hospitality and CITIGROUP
The main advantage of trading using opposite Ryman Hospitality and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ryman Hospitality 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.| Ryman Hospitality vs. RLJ Lodging Trust | Ryman Hospitality vs. Pebblebrook Hotel Trust | Ryman Hospitality vs. Xenia Hotels Resorts | Ryman Hospitality vs. Sunstone Hotel Investors |
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 Stocks Directory module to find actively traded stocks across global markets.
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