Correlation Between Citigroup and Southwest Georgia
Can any of the company-specific risk be diversified away by investing in both Citigroup and Southwest Georgia 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 Southwest Georgia into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Southwest Georgia Financial, you can compare the effects of market volatilities on Citigroup and Southwest Georgia 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 Southwest Georgia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Southwest Georgia.
Diversification Opportunities for Citigroup and Southwest Georgia
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Southwest is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Southwest Georgia Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southwest Georgia 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 Southwest Georgia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southwest Georgia has no effect on the direction of Citigroup i.e., Citigroup and Southwest Georgia go up and down completely randomly.
Pair Corralation between Citigroup and Southwest Georgia
If you would invest 5,234 in Citigroup on January 20, 2024 and sell it today you would earn a total of 598.00 from holding Citigroup or generate 11.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. Southwest Georgia Financial
Performance |
| Timeline |
| Citigroup |
| Southwest Georgia |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and Southwest Georgia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Southwest Georgia
The main advantage of trading using opposite Citigroup and Southwest Georgia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Southwest Georgia 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 Southwest Georgia will offset losses from the drop in Southwest Georgia's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Southwest Georgia vs. Aptiv PLC | Southwest Georgia vs. American Axle Manufacturing | Southwest Georgia vs. Bm Technologies | Southwest Georgia vs. Wallbox NV |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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