Correlation Between Citigroup and Harvest Fund
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By analyzing existing cross correlation between Citigroup and Harvest Fund Management, you can compare the effects of market volatilities on Citigroup and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Harvest Fund.
Diversification Opportunities for Citigroup and Harvest Fund
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Citigroup and Harvest is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Citigroup i.e., Citigroup and Harvest Fund go up and down completely randomly.
Pair Corralation between Citigroup and Harvest Fund
Taking into account the 90-day investment horizon Citigroup is expected to generate 10.88 times less return on investment than Harvest Fund. In addition to that, Citigroup is 1.85 times more volatile than Harvest Fund Management. It trades about 0.01 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about 0.3 per unit of volatility. If you would invest 295.00 in Harvest Fund Management on December 30, 2024 and sell it today you would earn a total of 60.00 from holding Harvest Fund Management or generate 20.34% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 95.16% |
Values | Daily Returns |
Citigroup vs. Harvest Fund Management
Performance |
Timeline |
Citigroup |
Harvest Fund Management |
Citigroup and Harvest Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and Harvest Fund
The main advantage of trading using opposite Citigroup and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.Citigroup vs. PJT Partners | Citigroup vs. National Bank Holdings | Citigroup vs. FB Financial Corp | Citigroup vs. Northrim BanCorp |
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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