Correlation Between CITIGROUP and Mangazeya Mining
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By analyzing existing cross correlation between CITIGROUP INC 6675 and Mangazeya Mining, you can compare the effects of market volatilities on CITIGROUP and Mangazeya Mining 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 Mangazeya Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIGROUP and Mangazeya Mining.
Diversification Opportunities for CITIGROUP and Mangazeya Mining
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CITIGROUP and Mangazeya is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CITIGROUP INC 6675 and Mangazeya Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mangazeya Mining 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 6675 are associated (or correlated) with Mangazeya Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mangazeya Mining has no effect on the direction of CITIGROUP i.e., CITIGROUP and Mangazeya Mining go up and down completely randomly.
Pair Corralation between CITIGROUP and Mangazeya Mining
If you would invest 0.00 in Mangazeya Mining on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Mangazeya Mining or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 85.37% |
| Values | Daily Returns |
CITIGROUP INC 6675 vs. Mangazeya Mining
Performance |
| Timeline |
| CITIGROUP INC 6675 |
| Mangazeya Mining |
CITIGROUP and Mangazeya Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIGROUP and Mangazeya Mining
The main advantage of trading using opposite CITIGROUP and Mangazeya Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIGROUP position performs unexpectedly, Mangazeya Mining 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 Mangazeya Mining will offset losses from the drop in Mangazeya Mining's long position.| CITIGROUP vs. Pure Cycle | CITIGROUP vs. Griffon | CITIGROUP vs. Cheniere Energy Partners | CITIGROUP vs. Verra Mobility Corp |
| Mangazeya Mining vs. Fortuna Silver Mines | Mangazeya Mining vs. Pan American Silver | Mangazeya Mining vs. Harmony Gold Mining | Mangazeya Mining vs. IAMGold |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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