Correlation Between Citigroup and UBS 100
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By analyzing existing cross correlation between Citigroup and UBS 100 Index Fund, you can compare the effects of market volatilities on Citigroup and UBS 100 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 UBS 100. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and UBS 100.
Diversification Opportunities for Citigroup and UBS 100
Pay attention - limited upside
The 3 months correlation between Citigroup and UBS is -0.89. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and UBS 100 Index Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS 100 Index 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 UBS 100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS 100 Index has no effect on the direction of Citigroup i.e., Citigroup and UBS 100 go up and down completely randomly.
Pair Corralation between Citigroup and UBS 100
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.88 times more return on investment than UBS 100. However, Citigroup is 1.88 times more volatile than UBS 100 Index Fund. It trades about -0.06 of its potential returns per unit of risk. UBS 100 Index Fund is currently generating about -0.14 per unit of risk. If you would invest 7,215 in Citigroup on October 7, 2024 and sell it today you would lose (115.00) from holding Citigroup or give up 1.59% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Significant |
Accuracy | 75.0% |
Values | Daily Returns |
Citigroup vs. UBS 100 Index Fund
Performance |
Timeline |
Citigroup |
UBS 100 Index |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and UBS 100 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and UBS 100
The main advantage of trading using opposite Citigroup and UBS 100 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, UBS 100 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 UBS 100 will offset losses from the drop in UBS 100's long position.Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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