Correlation Between 548661EK9 and Citizens Bancorp
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By analyzing existing cross correlation between LOW 44 08 SEP 25 and Citizens Bancorp Investment, you can compare the effects of market volatilities on 548661EK9 and Citizens 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 548661EK9 with a short position of Citizens Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of 548661EK9 and Citizens Bancorp.
Diversification Opportunities for 548661EK9 and Citizens Bancorp
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between 548661EK9 and Citizens is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding LOW 44 08 SEP 25 and Citizens Bancorp Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citizens Bancorp Inv and 548661EK9 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 LOW 44 08 SEP 25 are associated (or correlated) with Citizens Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citizens Bancorp Inv has no effect on the direction of 548661EK9 i.e., 548661EK9 and Citizens Bancorp go up and down completely randomly.
Pair Corralation between 548661EK9 and Citizens Bancorp
Assuming the 90 days trading horizon LOW 44 08 SEP 25 is expected to under-perform the Citizens Bancorp. But the bond apears to be less risky and, when comparing its historical volatility, LOW 44 08 SEP 25 is 7.0 times less risky than Citizens Bancorp. The bond trades about -0.17 of its potential returns per unit of risk. The Citizens Bancorp Investment is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 2,400 in Citizens Bancorp Investment on September 2, 2024 and sell it today you would earn a total of 100.00 from holding Citizens Bancorp Investment or generate 4.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
LOW 44 08 SEP 25 vs. Citizens Bancorp Investment
Performance |
| Timeline |
| LOW 44 08 |
| Citizens Bancorp Inv |
548661EK9 and Citizens Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 548661EK9 and Citizens Bancorp
The main advantage of trading using opposite 548661EK9 and Citizens Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 548661EK9 position performs unexpectedly, Citizens 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 Citizens Bancorp will offset losses from the drop in Citizens Bancorp's long position.| 548661EK9 vs. Citizens Bancorp Investment | 548661EK9 vs. Morgan Stanley | 548661EK9 vs. ServiceNow | 548661EK9 vs. NextNav Warrant |
| Citizens Bancorp vs. Greenville Federal Financial | Citizens Bancorp vs. First Ottawa Bancshares | Citizens Bancorp vs. Coastal Carolina Bancshares | Citizens Bancorp vs. First Bankers Trustshares |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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