Correlation Between CITIGROUP and Femasys
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By analyzing existing cross correlation between CITIGROUP INC 32 and Femasys, you can compare the effects of market volatilities on CITIGROUP and Femasys 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 Femasys. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIGROUP and Femasys.
Diversification Opportunities for CITIGROUP and Femasys
Weak diversification
The 3 months correlation between CITIGROUP and Femasys is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding CITIGROUP INC 32 and Femasys in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Femasys 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 32 are associated (or correlated) with Femasys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Femasys has no effect on the direction of CITIGROUP i.e., CITIGROUP and Femasys go up and down completely randomly.
Pair Corralation between CITIGROUP and Femasys
Assuming the 90 days trading horizon CITIGROUP is expected to generate 75.54 times less return on investment than Femasys. But when comparing it to its historical volatility, CITIGROUP INC 32 is 51.34 times less risky than Femasys. It trades about 0.03 of its potential returns per unit of risk. Femasys is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 111.00 in Femasys on November 30, 2024 and sell it today you would earn a total of 48.00 from holding Femasys or generate 43.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CITIGROUP INC 32 vs. Femasys
Performance |
| Timeline |
| CITIGROUP INC 32 |
| Femasys |
CITIGROUP and Femasys Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIGROUP and Femasys
The main advantage of trading using opposite CITIGROUP and Femasys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIGROUP position performs unexpectedly, Femasys 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 Femasys will offset losses from the drop in Femasys' long position.| CITIGROUP vs. AEP TEX INC | CITIGROUP vs. iShares Global Consumer | CITIGROUP vs. Caterpillar | CITIGROUP vs. 3M Company |
| Femasys vs. Precision Optics, | Femasys vs. Repro Med Systems | Femasys vs. InfuSystems Holdings | Femasys vs. Utah Medical Products |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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