Correlation Between CITIGROUP and Ryman Hospitality
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By analyzing existing cross correlation between CITIGROUP INC 6625 and Ryman Hospitality Properties, you can compare the effects of market volatilities on CITIGROUP and Ryman Hospitality 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 CITIGROUP with a short position of Ryman Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIGROUP and Ryman Hospitality.
Diversification Opportunities for CITIGROUP and Ryman Hospitality
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between CITIGROUP and Ryman is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding CITIGROUP INC 6625 and Ryman Hospitality Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ryman Hospitality and CITIGROUP 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 CITIGROUP INC 6625 are associated (or correlated) with Ryman Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ryman Hospitality has no effect on the direction of CITIGROUP i.e., CITIGROUP and Ryman Hospitality go up and down completely randomly.
Pair Corralation between CITIGROUP and Ryman Hospitality
Assuming the 90 days trading horizon CITIGROUP INC 6625 is expected to under-perform the Ryman Hospitality. But the bond apears to be less risky and, when comparing its historical volatility, CITIGROUP INC 6625 is 1.73 times less risky than Ryman Hospitality. The bond trades about 0.0 of its potential returns per unit of risk. The Ryman Hospitality Properties is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 8,085 in Ryman Hospitality Properties on November 30, 2024 and sell it today you would earn a total of 1,601 from holding Ryman Hospitality Properties or generate 19.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.39% |
| Values | Daily Returns |
CITIGROUP INC 6625 vs. Ryman Hospitality Properties
Performance |
| Timeline |
| CITIGROUP INC 6625 |
| Ryman Hospitality |
CITIGROUP and Ryman Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIGROUP and Ryman Hospitality
The main advantage of trading using opposite CITIGROUP and Ryman Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIGROUP position performs unexpectedly, Ryman Hospitality 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 Ryman Hospitality will offset losses from the drop in Ryman Hospitality's long position.| CITIGROUP vs. Constellation Brands Class | CITIGROUP vs. China Resources Beer | CITIGROUP vs. Teradyne | CITIGROUP vs. Qorvo Inc |
| 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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