Correlation Between Walker Dunlop and CITIGROUP
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By analyzing existing cross correlation between Walker Dunlop and CITIGROUP INC 53, you can compare the effects of market volatilities on Walker Dunlop 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 Walker Dunlop with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and CITIGROUP.
Diversification Opportunities for Walker Dunlop and CITIGROUP
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Walker and CITIGROUP is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop 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 Walker Dunlop 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 Walker Dunlop 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 Walker Dunlop i.e., Walker Dunlop and CITIGROUP go up and down completely randomly.
Pair Corralation between Walker Dunlop and CITIGROUP
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 1.15 times more return on investment than CITIGROUP. However, Walker Dunlop is 1.15 times more volatile than CITIGROUP INC 53. It trades about -0.03 of its potential returns per unit of risk. CITIGROUP INC 53 is currently generating about -0.19 per unit of risk. If you would invest 9,721 in Walker Dunlop on November 1, 2024 and sell it today you would lose (157.00) from holding Walker Dunlop or give up 1.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Walker Dunlop vs. CITIGROUP INC 53
Performance |
| Timeline |
| Walker Dunlop |
| CITIGROUP INC 53 |
Walker Dunlop and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and CITIGROUP
The main advantage of trading using opposite Walker Dunlop and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop 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.| Walker Dunlop vs. Guild Holdings Co | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| CITIGROUP vs. Integrated Media Technology | CITIGROUP vs. Eltek | CITIGROUP vs. Vishay Precision Group | CITIGROUP vs. BRP Inc |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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