Correlation Analysis Between Alphabet and Citigroup

This module allows you to analyze existing cross correlation between Alphabet and Citigroup. You can compare the effects of market volatilities on Alphabet 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 Alphabet with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of Alphabet and Citigroup.
Horizon     30 Days    Login   to change
Symbolsvs

Alphabet Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Alphabet is expected to under-perform the Citigroup. In addition to that, Alphabet is 1.47 times more volatile than Citigroup. It trades about -0.14 of its total potential returns per unit of risk. Citigroup is currently generating about 0.07 per unit of volatility. If you would invest  7,053  in Citigroup on August 20, 2018 and sell it today you would earn a total of  83.00  from holding Citigroup or generate 1.18% return on investment over 30 days.

Pair Corralation between Alphabet and Citigroup

0.6
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Alphabet Inc and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Alphabet 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 Alphabet 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 Alphabet i.e. Alphabet and Citigroup go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Alphabet  
0 

Risk-Adjusted Performance

Over the last 30 days Alphabet has generated negative risk-adjusted returns adding no value to investors with long positions.
Citigroup  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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