Correlation Analysis Between Citigroup and Sprint

This module allows you to analyze existing cross correlation between Citigroup and Sprint Corporation. You can compare the effects of market volatilities on Citigroup and Sprint 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 Sprint. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Sprint.
Horizon     30 Days    Login   to change
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Comparative Performance

Citigroup  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat sluggish basic indicators, Citigroup may actually be approaching a critical reversion point that can send shares even higher in January 2020.
Sprint  
00

Risk-Adjusted Performance

Over the last 30 days Sprint Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of fragile performance in the last few months, the Stock's forward-looking signals remain relatively invariable which may send shares a bit higher in January 2020. The latest agitation may also be a sign of long running up-swing for the enterprise management.

Citigroup and Sprint Volatility Contrast

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  Sprint Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 0.78 times more return on investment than Sprint. However, Citigroup is 1.29 times less risky than Sprint. It trades about 0.12 of its potential returns per unit of risk. Sprint Corporation is currently generating about -0.2 per unit of risk. If you would invest  6,879  in Citigroup on November 8, 2019 and sell it today you would earn a total of  702.00  from holding Citigroup or generate 10.2% return on investment over 30 days.

Pair Corralation between Citigroup and Sprint

-0.6
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Citigroup and Sprint

Citigroup Inc diversification synergy

Excellent diversification

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