This module allows you to analyze existing cross correlation between Sprint Corporation and Citigroup. You can compare the effects of market volatilities on Sprint 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 Sprint with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of Sprint and Citigroup.
|Horizon||30 Days Login to change|
Over the last 30 days Sprint Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Sprint is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.
Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest sluggish performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Sprint and Citigroup Volatility Contrast
Predicted Return Density
Sprint Corp. vs. Citigroup Inc
Taking into account the 30 trading days horizon, Sprint Corporation is expected to generate 1.56 times more return on investment than Citigroup. However, Sprint is 1.56 times more volatile than Citigroup. It trades about 0.01 of its potential returns per unit of risk. Citigroup is currently generating about -0.07 per unit of risk. If you would invest 684.00 in Sprint Corporation on July 22, 2019 and sell it today you would lose (2.00) from holding Sprint Corporation or give up 0.29% of portfolio value over 30 days.
Pair Corralation between Sprint and Citigroup
|Time Period||2 Months [change]|
Diversification Opportunities for Sprint and Citigroup
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Sprint Corp. and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Sprint 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 Sprint 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 has no effect on the direction of Sprint i.e. Sprint and Citigroup go up and down completely randomly.
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