Correlation Between Southwest Georgia and Citigroup
Can any of the company-specific risk be diversified away by investing in both Southwest Georgia 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 Southwest Georgia and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Southwest Georgia Financial and Citigroup, you can compare the effects of market volatilities on Southwest Georgia 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 Southwest Georgia with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Southwest Georgia and Citigroup.
Diversification Opportunities for Southwest Georgia and Citigroup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Southwest and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Southwest Georgia Financial and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Southwest Georgia 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 Southwest Georgia Financial 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 Southwest Georgia i.e., Southwest Georgia and Citigroup go up and down completely randomly.
Pair Corralation between Southwest Georgia and Citigroup
If you would invest 5,360 in Citigroup on December 29, 2023 and sell it today you would earn a total of 915.00 from holding Citigroup or generate 17.07% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Southwest Georgia Financial vs. Citigroup
Performance |
Timeline |
Southwest Georgia |
Risk-Adjusted Performance
0 of 100
Low | High |
Very Weak
Citigroup |
Southwest Georgia and Citigroup Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Southwest Georgia and Citigroup
The main advantage of trading using opposite Southwest Georgia and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Southwest Georgia 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.Southwest Georgia vs. Xunlei Ltd Adr | Southwest Georgia vs. Artisan Partners Asset | Southwest Georgia vs. LanzaTech Global | Southwest Georgia vs. Cimpress NV |
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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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