Correlation Analysis Between Apple and Citigroup

This module allows you to analyze existing cross correlation between Apple and Citigroup. You can compare the effects of market volatilities on Apple and Citigroup 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 Apple with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of Apple and Citigroup.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Apple  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Even with considerably conflicting technical indicators, Apple may actually be approaching a critical reversion point that can send shares even higher in September 2019.
Citigroup  
00

Risk-Adjusted Performance

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest sluggish performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Apple and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

Apple Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to generate 1.0 times more return on investment than Citigroup. However, Apple is 1.0 times more volatile than Citigroup. It trades about 0.07 of its potential returns per unit of risk. Citigroup is currently generating about -0.08 per unit of risk. If you would invest  19,787  in Apple on July 19, 2019 and sell it today you would earn a total of  863.00  from holding Apple or generate 4.36% return on investment over 30 days.

Pair Corralation between Apple and Citigroup

0.49
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Apple and Citigroup

Apple Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Apple 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 Apple are associated (or correlated) with Citigroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citigroup has no effect on the direction of Apple i.e. Apple and Citigroup go up and down completely randomly.
See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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