Correlation Between Walmart and CITIGROUP
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By analyzing existing cross correlation between Walmart and CITIGROUP INC 475, you can compare the effects of market volatilities on Walmart 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 Walmart with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walmart and CITIGROUP.
Diversification Opportunities for Walmart and CITIGROUP
Very good diversification
The 3 months correlation between Walmart and CITIGROUP is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Walmart and CITIGROUP INC 475 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 475 and Walmart 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 Walmart 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 475 has no effect on the direction of Walmart i.e., Walmart and CITIGROUP go up and down completely randomly.
Pair Corralation between Walmart and CITIGROUP
Considering the 90-day investment horizon Walmart is expected to generate 0.95 times more return on investment than CITIGROUP. However, Walmart is 1.05 times less risky than CITIGROUP. It trades about 0.16 of its potential returns per unit of risk. CITIGROUP INC 475 is currently generating about 0.02 per unit of risk. If you would invest 5,017 in Walmart on September 1, 2024 and sell it today you would earn a total of 4,233 from holding Walmart or generate 84.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.31% |
| Values | Daily Returns |
Walmart vs. CITIGROUP INC 475
Performance |
| Timeline |
| Walmart |
| CITIGROUP INC 475 |
Walmart and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walmart and CITIGROUP
The main advantage of trading using opposite Walmart and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walmart 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.| Walmart vs. Ingles Markets Incorporated | Walmart vs. Sendas Distribuidora SA | Walmart vs. Grocery Outlet Holding | Walmart vs. Village Super Market |
| CITIGROUP vs. Kura Sushi USA | CITIGROUP vs. Boston Properties | CITIGROUP vs. The Wendys Co | CITIGROUP vs. Hooker Furniture |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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