Correlation Between Rush Street and CITIGROUP
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By analyzing existing cross correlation between Rush Street Interactive and CITIGROUP INC 37, you can compare the effects of market volatilities on Rush Street 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 Rush Street with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rush Street and CITIGROUP.
Diversification Opportunities for Rush Street and CITIGROUP
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Rush and CITIGROUP is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Rush Street Interactive and CITIGROUP INC 37 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 37 and Rush Street 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 Rush Street Interactive 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 37 has no effect on the direction of Rush Street i.e., Rush Street and CITIGROUP go up and down completely randomly.
Pair Corralation between Rush Street and CITIGROUP
Considering the 90-day investment horizon Rush Street Interactive is expected to generate 17.67 times more return on investment than CITIGROUP. However, Rush Street is 17.67 times more volatile than CITIGROUP INC 37. It trades about 0.13 of its potential returns per unit of risk. CITIGROUP INC 37 is currently generating about 0.02 per unit of risk. If you would invest 304.00 in Rush Street Interactive on September 1, 2024 and sell it today you would earn a total of 1,138 from holding Rush Street Interactive or generate 374.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rush Street Interactive vs. CITIGROUP INC 37
Performance |
| Timeline |
| Rush Street Interactive |
| CITIGROUP INC 37 |
Rush Street and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rush Street and CITIGROUP
The main advantage of trading using opposite Rush Street and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rush Street 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.| Rush Street vs. The Wendys Co | Rush Street vs. Wingstop | Rush Street vs. Shake Shack | Rush Street vs. Papa Johns 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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