Correlation Between Titan International and CITIGROUP
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By analyzing existing cross correlation between Titan International and CITIGROUP INC 585, you can compare the effects of market volatilities on Titan International 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 Titan International with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Titan International and CITIGROUP.
Diversification Opportunities for Titan International and CITIGROUP
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Titan and CITIGROUP is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Titan International and CITIGROUP INC 585 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 585 and Titan International 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 Titan International 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 585 has no effect on the direction of Titan International i.e., Titan International and CITIGROUP go up and down completely randomly.
Pair Corralation between Titan International and CITIGROUP
Considering the 90-day investment horizon Titan International is expected to generate 2.67 times more return on investment than CITIGROUP. However, Titan International is 2.67 times more volatile than CITIGROUP INC 585. It trades about 0.19 of its potential returns per unit of risk. CITIGROUP INC 585 is currently generating about -0.25 per unit of risk. If you would invest 645.00 in Titan International on September 3, 2024 and sell it today you would earn a total of 87.00 from holding Titan International or generate 13.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 60.0% |
| Values | Daily Returns |
Titan International vs. CITIGROUP INC 585
Performance |
| Timeline |
| Titan International |
| CITIGROUP INC 585 |
Titan International and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Titan International and CITIGROUP
The main advantage of trading using opposite Titan International and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Titan International 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.| Titan International vs. Shyft Group | Titan International vs. Manitowoc | Titan International vs. Oshkosh | Titan International vs. Terex |
| CITIGROUP vs. National CineMedia | CITIGROUP vs. Xponential Fitness | CITIGROUP vs. Playtika Holding Corp | CITIGROUP vs. Alvotech |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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