Correlation Between Citigroup and 04686JAF8
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By analyzing existing cross correlation between Citigroup and ATH 665 01 FEB 33, you can compare the effects of market volatilities on Citigroup and 04686JAF8 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 04686JAF8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 04686JAF8.
Diversification Opportunities for Citigroup and 04686JAF8
Very good diversification
The 3 months correlation between Citigroup and 04686JAF8 is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and ATH 665 01 FEB 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATH 665 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 04686JAF8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATH 665 01 has no effect on the direction of Citigroup i.e., Citigroup and 04686JAF8 go up and down completely randomly.
Pair Corralation between Citigroup and 04686JAF8
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.38 times more return on investment than 04686JAF8. However, Citigroup is 1.38 times more volatile than ATH 665 01 FEB 33. It trades about 0.05 of its potential returns per unit of risk. ATH 665 01 FEB 33 is currently generating about 0.03 per unit of risk. If you would invest 6,060 in Citigroup on September 24, 2024 and sell it today you would earn a total of 859.00 from holding Citigroup or generate 14.17% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Citigroup vs. ATH 665 01 FEB 33
Performance |
Timeline |
Citigroup |
ATH 665 01 |
Citigroup and 04686JAF8 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and 04686JAF8
The main advantage of trading using opposite Citigroup and 04686JAF8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 04686JAF8 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 04686JAF8 will offset losses from the drop in 04686JAF8'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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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