This module allows you to analyze existing cross correlation between CVS Health Corporation and Citigroup Inc. You can compare the effects of market volatilities on CVS Health 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 CVS Health with a short position of Citigroup. See also your portfolio center
. Please also check ongoing floating volatility patterns of CVS Health
CVS Health Corp. vs Citigroup Inc
Considering 30-days investment horizon, CVS Health Corporation is expected to generate 1.51 times more return on investment than Citigroup. However, CVS Health is 1.51 times more volatile than Citigroup Inc. It trades about 0.15 of its potential returns per unit of risk. Citigroup Inc is currently generating about 0.18 per unit of risk. If you would invest 7,677 in CVS Health Corporation on May 28, 2017 and sell it today you would earn a total of 335.00 from holding CVS Health Corporation or generate 4.36% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding CVS Health Corp. and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup Inc and CVS Health 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 CVS Health Corporation 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 Inc has no effect on the direction of CVS Health i.e. CVS Health and Citigroup go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in CVS Health Corporation are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup Inc are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.