Correlation Analysis Between Visa and Citigroup

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

Comparative Performance

Visa  
0

Risk-Adjusted Performance

Over the last 30 days Visa has generated negative risk-adjusted returns adding no value to investors with long positions.
Citigroup  
0

Risk-Adjusted Performance

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

Visa and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

Visa Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Visa is expected to generate 1.13 times more return on investment than Citigroup. However, Visa is 1.13 times more volatile than Citigroup. It trades about -0.04 of its potential returns per unit of risk. Citigroup is currently generating about -0.3 per unit of risk. If you would invest  14,174  in Visa on November 15, 2018 and sell it today you would lose (665.00)  from holding Visa or give up 4.69% of portfolio value over 30 days.

Pair Corralation between Visa and Citigroup

0.42
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Visa and Citigroup

Visa Inc diversification synergy

Very weak diversification

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

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