Correlation Between Vishay Precision and CITIGROUP
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By analyzing existing cross correlation between Vishay Precision Group and CITIGROUP INC 53, you can compare the effects of market volatilities on Vishay Precision 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 Vishay Precision with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vishay Precision and CITIGROUP.
Diversification Opportunities for Vishay Precision and CITIGROUP
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Vishay and CITIGROUP is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Vishay Precision Group and CITIGROUP INC 53 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 53 and Vishay Precision 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 Vishay Precision Group 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 53 has no effect on the direction of Vishay Precision i.e., Vishay Precision and CITIGROUP go up and down completely randomly.
Pair Corralation between Vishay Precision and CITIGROUP
Considering the 90-day investment horizon Vishay Precision Group is expected to generate 1.67 times more return on investment than CITIGROUP. However, Vishay Precision is 1.67 times more volatile than CITIGROUP INC 53. It trades about 0.14 of its potential returns per unit of risk. CITIGROUP INC 53 is currently generating about 0.09 per unit of risk. If you would invest 2,272 in Vishay Precision Group on November 9, 2024 and sell it today you would earn a total of 121.00 from holding Vishay Precision Group or generate 5.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Vishay Precision Group vs. CITIGROUP INC 53
Performance |
| Timeline |
| Vishay Precision |
| CITIGROUP INC 53 |
Vishay Precision and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vishay Precision and CITIGROUP
The main advantage of trading using opposite Vishay Precision and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vishay Precision 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.| Vishay Precision vs. Spectris plc | Vishay Precision vs. Mesa Laboratories | Vishay Precision vs. ESCO Technologies | Vishay Precision vs. Focus Universal |
| CITIGROUP vs. Westrock Coffee | CITIGROUP vs. NetEase | CITIGROUP vs. Ambev SA ADR | CITIGROUP vs. Boyd Gaming |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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