Correlation Between Meiwu Technology and CITIGROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Meiwu Technology Co and CITIGROUP INC 55, you can compare the effects of market volatilities on Meiwu Technology 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 Meiwu Technology with a short position of CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and CITIGROUP.
Diversification Opportunities for Meiwu Technology and CITIGROUP
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Meiwu and CITIGROUP is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and CITIGROUP INC 55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 55 and Meiwu Technology 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 Meiwu Technology Co 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 55 has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and CITIGROUP go up and down completely randomly.
Pair Corralation between Meiwu Technology and CITIGROUP
Considering the 90-day investment horizon Meiwu Technology Co is expected to under-perform the CITIGROUP. In addition to that, Meiwu Technology is 20.93 times more volatile than CITIGROUP INC 55. It trades about -0.01 of its total potential returns per unit of risk. CITIGROUP INC 55 is currently generating about -0.01 per unit of volatility. If you would invest 10,194 in CITIGROUP INC 55 on September 3, 2024 and sell it today you would lose (205.00) from holding CITIGROUP INC 55 or give up 2.01% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Meiwu Technology Co vs. CITIGROUP INC 55
Performance |
| Timeline |
| Meiwu Technology |
| CITIGROUP INC 55 |
Meiwu Technology and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and CITIGROUP
The main advantage of trading using opposite Meiwu Technology and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology 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.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
| CITIGROUP vs. Harmony Gold Mining | CITIGROUP vs. Boyd Gaming | CITIGROUP vs. Lion One Metals | CITIGROUP vs. Amkor Technology |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device |