Correlation Between Citigroup and Yukselen Celik
Can any of the company-specific risk be diversified away by investing in both Citigroup and Yukselen Celik 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 Yukselen Celik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Yukselen Celik As, you can compare the effects of market volatilities on Citigroup and Yukselen Celik 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 Yukselen Celik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Yukselen Celik.
Diversification Opportunities for Citigroup and Yukselen Celik
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and Yukselen is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Yukselen Celik As in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yukselen Celik As 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 Yukselen Celik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yukselen Celik As has no effect on the direction of Citigroup i.e., Citigroup and Yukselen Celik go up and down completely randomly.
Pair Corralation between Citigroup and Yukselen Celik
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.76 times more return on investment than Yukselen Celik. However, Citigroup is 1.31 times less risky than Yukselen Celik. It trades about 0.12 of its potential returns per unit of risk. Yukselen Celik As is currently generating about -0.06 per unit of risk. If you would invest 6,083 in Citigroup on September 24, 2024 and sell it today you would earn a total of 836.00 from holding Citigroup or generate 13.74% 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. Yukselen Celik As
Performance |
Timeline |
Citigroup |
Yukselen Celik As |
Citigroup and Yukselen Celik Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citigroup and Yukselen Celik
The main advantage of trading using opposite Citigroup and Yukselen Celik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Yukselen Celik 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 Yukselen Celik will offset losses from the drop in Yukselen Celik'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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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