Correlation Between CITIGROUP and Glacier Bancorp
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By analyzing existing cross correlation between CITIGROUP INC 32 and Glacier Bancorp, you can compare the effects of market volatilities on CITIGROUP and Glacier Bancorp 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 Glacier Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIGROUP and Glacier Bancorp.
Diversification Opportunities for CITIGROUP and Glacier Bancorp
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CITIGROUP and Glacier is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding CITIGROUP INC 32 and Glacier Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glacier Bancorp 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 Glacier Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glacier Bancorp has no effect on the direction of CITIGROUP i.e., CITIGROUP and Glacier Bancorp go up and down completely randomly.
Pair Corralation between CITIGROUP and Glacier Bancorp
Assuming the 90 days trading horizon CITIGROUP is expected to generate 814.25 times less return on investment than Glacier Bancorp. But when comparing it to its historical volatility, CITIGROUP INC 32 is 7.02 times less risky than Glacier Bancorp. It trades about 0.0 of its potential returns per unit of risk. Glacier Bancorp is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 3,728 in Glacier Bancorp on September 3, 2024 and sell it today you would earn a total of 2,061 from holding Glacier Bancorp or generate 55.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.32% |
| Values | Daily Returns |
CITIGROUP INC 32 vs. Glacier Bancorp
Performance |
| Timeline |
| CITIGROUP INC 32 |
| Glacier Bancorp |
CITIGROUP and Glacier Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIGROUP and Glacier Bancorp
The main advantage of trading using opposite CITIGROUP and Glacier Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIGROUP position performs unexpectedly, Glacier Bancorp 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 Glacier Bancorp will offset losses from the drop in Glacier Bancorp's long position.| CITIGROUP vs. AEP TEX INC | CITIGROUP vs. US BANK NATIONAL | CITIGROUP vs. Jackson Financial | CITIGROUP vs. MetLife |
| Glacier Bancorp vs. CVB Financial | Glacier Bancorp vs. Independent Bank Group | Glacier Bancorp vs. Columbia Banking System | Glacier Bancorp vs. First Financial Bankshares |
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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