Correlation Between Community Shores and Citigroup
Can any of the company-specific risk be diversified away by investing in both Community Shores and Citigroup 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 Community Shores and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Community Shores Bank and Citigroup, you can compare the effects of market volatilities on Community Shores and Citigroup 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 Community Shores with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Community Shores and Citigroup.
Diversification Opportunities for Community Shores and Citigroup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Community and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Community Shores Bank and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Community Shores 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 Community Shores Bank are associated (or correlated) with Citigroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citigroup has no effect on the direction of Community Shores i.e., Community Shores and Citigroup go up and down completely randomly.
Pair Corralation between Community Shores and Citigroup
If you would invest 6,095 in Citigroup on January 24, 2024 and sell it today you would earn a total of 0.00 from holding Citigroup or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Community Shores Bank vs. Citigroup
Performance |
| Timeline |
| Community Shores Bank |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Citigroup |
Community Shores and Citigroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Community Shores and Citigroup
The main advantage of trading using opposite Community Shores and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Community Shores position performs unexpectedly, Citigroup 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 Citigroup will offset losses from the drop in Citigroup's long position.| Community Shores vs. Global Crossing Airlines | Community Shores vs. Neogen | Community Shores vs. PennantPark Floating Rate | Community Shores vs. Aegean Airlines SA |
| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |