Correlation Between Citigroup and World Point
Can any of the company-specific risk be diversified away by investing in both Citigroup and World Point 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 World Point into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and World Point Terminals, you can compare the effects of market volatilities on Citigroup and World Point 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 World Point. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and World Point.
Diversification Opportunities for Citigroup and World Point
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and World is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and World Point Terminals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on World Point Terminals 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 World Point. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of World Point Terminals has no effect on the direction of Citigroup i.e., Citigroup and World Point go up and down completely randomly.
Pair Corralation between Citigroup and World Point
If you would invest 5,316 in Citigroup on January 26, 2024 and sell it today you would earn a total of 931.00 from holding Citigroup or generate 17.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citigroup vs. World Point Terminals
Performance |
| Timeline |
| Citigroup |
| World Point Terminals |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citigroup and World Point Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and World Point
The main advantage of trading using opposite Citigroup and World Point positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, World Point 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 World Point will offset losses from the drop in World Point's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| World Point vs. Marfrig Global Foods | World Point vs. Albertsons Companies | World Point vs. Hf Foods Group | World Point vs. SFL Corporation |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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