Correlation Between Citigroup and Moxian
Can any of the company-specific risk be diversified away by investing in both Citigroup and Moxian at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Citigroup and Moxian into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Moxian Inc, you can compare the effects of market volatilities on Citigroup and Moxian 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 Moxian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Moxian.
Diversification Opportunities for Citigroup and Moxian
Very good diversification
The 3 months correlation between Citigroup and Moxian is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Moxian Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moxian Inc 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 Moxian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moxian Inc has no effect on the direction of Citigroup i.e., Citigroup and Moxian go up and down completely randomly.
Pair Corralation between Citigroup and Moxian
If you would invest 5,937 in Citigroup on September 18, 2024 and sell it today you would earn a total of 1,212 from holding Citigroup or generate 20.41% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 1.59% |
Values | Daily Returns |
Citigroup vs. Moxian Inc
Performance |
Timeline |
Citigroup |
Moxian Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Moxian Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and Moxian
The main advantage of trading using opposite Citigroup and Moxian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Moxian 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 Moxian will offset losses from the drop in Moxian's long position.Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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