Correlation Between Citigroup and 694308KC0
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By analyzing existing cross correlation between Citigroup and PCG 44 01 MAR 32, you can compare the effects of market volatilities on Citigroup and 694308KC0 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 694308KC0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 694308KC0.
Diversification Opportunities for Citigroup and 694308KC0
Very good diversification
The 3 months correlation between Citigroup and 694308KC0 is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and PCG 44 01 MAR 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PCG 44 01 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 694308KC0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PCG 44 01 has no effect on the direction of Citigroup i.e., Citigroup and 694308KC0 go up and down completely randomly.
Pair Corralation between Citigroup and 694308KC0
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.99 times more return on investment than 694308KC0. However, Citigroup is 1.01 times less risky than 694308KC0. It trades about 0.1 of its potential returns per unit of risk. PCG 44 01 MAR 32 is currently generating about -0.15 per unit of risk. If you would invest 6,203 in Citigroup on September 23, 2024 and sell it today you would earn a total of 716.00 from holding Citigroup or generate 11.54% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 81.54% |
Values | Daily Returns |
Citigroup vs. PCG 44 01 MAR 32
Performance |
Timeline |
Citigroup |
PCG 44 01 |
Citigroup and 694308KC0 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and 694308KC0
The main advantage of trading using opposite Citigroup and 694308KC0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 694308KC0 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 694308KC0 will offset losses from the drop in 694308KC0's long position.Citigroup vs. Nu Holdings | Citigroup vs. Canadian Imperial Bank | Citigroup vs. Bank of Montreal | Citigroup vs. Bank of Nova |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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