Correlation Between Citigroup and Hologic
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By analyzing existing cross correlation between Citigroup and Hologic 4625 percent, you can compare the effects of market volatilities on Citigroup and Hologic 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 Citigroup with a short position of Hologic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Hologic.
Diversification Opportunities for Citigroup and Hologic
Very good diversification
The 3 months correlation between Citigroup and Hologic is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Hologic 4625 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hologic 4625 percent and Citigroup 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 Citigroup are associated (or correlated) with Hologic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hologic 4625 percent has no effect on the direction of Citigroup i.e., Citigroup and Hologic go up and down completely randomly.
Pair Corralation between Citigroup and Hologic
Taking into account the 90-day investment horizon Citigroup is expected to generate 2.99 times more return on investment than Hologic. However, Citigroup is 2.99 times more volatile than Hologic 4625 percent. It trades about 0.13 of its potential returns per unit of risk. Hologic 4625 percent is currently generating about -0.16 per unit of risk. If you would invest 5,985 in Citigroup on September 25, 2024 and sell it today you would earn a total of 934.00 from holding Citigroup or generate 15.61% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 82.54% |
Values | Daily Returns |
Citigroup vs. Hologic 4625 percent
Performance |
Timeline |
Citigroup |
Hologic 4625 percent |
Citigroup and Hologic Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and Hologic
The main advantage of trading using opposite Citigroup and Hologic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Hologic 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 Hologic will offset losses from the drop in Hologic's long position.The idea behind Citigroup and Hologic 4625 percent pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.Hologic vs. Shake Shack | Hologic vs. Kura Sushi USA | Hologic vs. Dennys Corp | Hologic vs. Everspin Technologies |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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