Correlation Between CITIGROUP and AerSale Corp
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By analyzing existing cross correlation between CITIGROUP INC 465 and AerSale Corp, you can compare the effects of market volatilities on CITIGROUP and AerSale Corp 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 AerSale Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIGROUP and AerSale Corp.
Diversification Opportunities for CITIGROUP and AerSale Corp
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CITIGROUP and AerSale is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding CITIGROUP INC 465 and AerSale Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AerSale Corp 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 465 are associated (or correlated) with AerSale Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AerSale Corp has no effect on the direction of CITIGROUP i.e., CITIGROUP and AerSale Corp go up and down completely randomly.
Pair Corralation between CITIGROUP and AerSale Corp
Assuming the 90 days trading horizon CITIGROUP INC 465 is expected to generate 14.28 times more return on investment than AerSale Corp. However, CITIGROUP is 14.28 times more volatile than AerSale Corp. It trades about 0.04 of its potential returns per unit of risk. AerSale Corp is currently generating about -0.04 per unit of risk. If you would invest 9,246 in CITIGROUP INC 465 on September 3, 2024 and sell it today you would lose (139.00) from holding CITIGROUP INC 465 or give up 1.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.17% |
| Values | Daily Returns |
CITIGROUP INC 465 vs. AerSale Corp
Performance |
| Timeline |
| CITIGROUP INC 465 |
| AerSale Corp |
CITIGROUP and AerSale Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIGROUP and AerSale Corp
The main advantage of trading using opposite CITIGROUP and AerSale Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIGROUP position performs unexpectedly, AerSale Corp 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 AerSale Corp will offset losses from the drop in AerSale Corp's long position.| CITIGROUP vs. AerSale Corp | CITIGROUP vs. Enersys | CITIGROUP vs. Aldel Financial II | CITIGROUP vs. Jacobs Solutions |
| AerSale Corp vs. Grupo Aeroportuario del | AerSale Corp vs. Grupo Aeroportuario del | AerSale Corp vs. Corporacion America Airports | AerSale Corp vs. Aeroports de Paris |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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