This module allows you to analyze existing cross correlation between Citigroup Inc and Macys Inc. You can compare the effects of market volatilities on Citigroup and Macys 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 Macys. See also your portfolio center
. Please also check ongoing floating volatility patterns of Citigroup
Citigroup Inc vs Macys Inc
If you would invest 7,288 in Citigroup Inc on September 20, 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.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and Macys Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Macys 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 Inc are associated (or correlated) with Macys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Macys Inc has no effect on the direction of Citigroup i.e. Citigroup and Macys go up and down completely randomly.
Over the last 30 days Macys Inc has generated negative risk-adjusted returns adding no value to investors with long positions.