Pair Correlation Between Citigroup and International Business

This module allows you to analyze existing cross correlation between Citigroup Inc and International Business Machines Corporation. You can compare the effects of market volatilities on Citigroup and International Business 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 International Business. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and International Business.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Citigroup Inc  vs   International Business Machine
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  7,226  in Citigroup Inc on October 25, 2017 and sell it today you would earn a total of  0.00  from holding Citigroup Inc or generate 0.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Citigroup and International Business
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and International Business Machine in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on International Business 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 Inc are associated (or correlated) with International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of Citigroup i.e. Citigroup and International Business go up and down completely randomly.

Comparative Volatility

International Business

  
0 

Risk-Adjusted Performance

Over the last 30 days International Business Machines Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.