Correlation Between Southwest Georgia and Citigroup

Specify exactly 2 symbols:
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 Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Southwest Georgia Financial  vs.  Citigroup

 Performance 
       Timeline  
Southwest Georgia 

Risk-Adjusted Performance

0 of 100

 
Low
 
High
Very Weak
Over the last 90 days Southwest Georgia Financial has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong technical and fundamental indicators, Southwest Georgia is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.
Citigroup 

Risk-Adjusted Performance

20 of 100

 
Low
 
High
Solid
Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 20 (%) of all global equities and portfolios over the last 90 days. In spite of rather fragile fundamental indicators, Citigroup exhibited solid returns over the last few months and may actually be approaching a breakup point.

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.
The idea behind Southwest Georgia Financial and Citigroup pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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.

Other Complementary Tools

Stock Screener
Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Idea Analyzer
Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Aroon Oscillator
Analyze current equity momentum using Aroon Oscillator and other momentum ratios
Watchlist Optimization
Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm
Portfolio Center
All portfolio management and optimization tools to improve performance of your portfolios
Portfolio Analyzer
Portfolio analysis module that provides access to portfolio diagnostics and optimization engine
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
Portfolio Diagnostics
Use generated alerts and portfolio events aggregator to diagnose current holdings
Portfolio Holdings
Check your current holdings and cash postion to detemine if your portfolio needs rebalancing
Analyst Advice
Analyst recommendations and target price estimates broken down by several categories
Idea Breakdown
Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes