Correlation Between Grupo Televisa and CITIGROUP
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By analyzing existing cross correlation between Grupo Televisa SAB and CITIGROUP FDG INC, you can compare the effects of market volatilities on Grupo Televisa 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 Grupo Televisa with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Televisa and CITIGROUP.
Diversification Opportunities for Grupo Televisa and CITIGROUP
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Grupo and CITIGROUP is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Televisa SAB and CITIGROUP FDG INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP FDG INC and Grupo Televisa 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 Grupo Televisa SAB 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 FDG INC has no effect on the direction of Grupo Televisa i.e., Grupo Televisa and CITIGROUP go up and down completely randomly.
Pair Corralation between Grupo Televisa and CITIGROUP
Allowing for the 90-day total investment horizon Grupo Televisa SAB is expected to under-perform the CITIGROUP. But the stock apears to be less risky and, when comparing its historical volatility, Grupo Televisa SAB is 1.86 times less risky than CITIGROUP. The stock trades about -0.36 of its potential returns per unit of risk. The CITIGROUP FDG INC is currently generating about -0.16 of returns per unit of risk over similar time horizon. If you would invest 8,459 in CITIGROUP FDG INC on September 3, 2024 and sell it today you would lose (519.00) from holding CITIGROUP FDG INC or give up 6.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 35.0% |
| Values | Daily Returns |
Grupo Televisa SAB vs. CITIGROUP FDG INC
Performance |
| Timeline |
| Grupo Televisa SAB |
| CITIGROUP FDG INC |
Grupo Televisa and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Televisa and CITIGROUP
The main advantage of trading using opposite Grupo Televisa and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Televisa 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.| Grupo Televisa vs. Orange SA ADR | Grupo Televisa vs. Telefonica Brasil SA | Grupo Televisa vs. Telefonica SA ADR | Grupo Televisa vs. Liberty Broadband Srs |
| CITIGROUP vs. AEP TEX INC | CITIGROUP vs. US BANK NATIONAL | CITIGROUP vs. Jackson Financial | CITIGROUP vs. MetLife |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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