Correlation Between Visa and CITIGROUP
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By analyzing existing cross correlation between Visa Class A and CITIGROUP INC 465, you can compare the effects of market volatilities on Visa and CITIGROUP 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 Visa with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and CITIGROUP.
Diversification Opportunities for Visa and CITIGROUP
Pay attention - limited upside
The 3 months correlation between Visa and CITIGROUP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A and CITIGROUP INC 465 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 465 and Visa 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 Visa Class A are associated (or correlated) with CITIGROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIGROUP INC 465 has no effect on the direction of Visa i.e., Visa and CITIGROUP go up and down completely randomly.
Pair Corralation between Visa and CITIGROUP
If you would invest 27,801 in Visa Class A on September 3, 2024 and sell it today you would earn a total of 3,707 from holding Visa Class A or generate 13.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
Visa Class A vs. CITIGROUP INC 465
Performance |
| Timeline |
| Visa Class A |
| CITIGROUP INC 465 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Visa and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Visa and CITIGROUP
The main advantage of trading using opposite Visa and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa position performs unexpectedly, CITIGROUP 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 CITIGROUP will offset losses from the drop in CITIGROUP's long position.| Visa vs. American Express | Visa vs. Capital One Financial | Visa vs. Upstart Holdings | Visa vs. Ally Financial |
| CITIGROUP vs. AerSale Corp | CITIGROUP vs. Enersys | CITIGROUP vs. Aldel Financial II | CITIGROUP vs. Jacobs Solutions |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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