This module allows you to analyze existing cross correlation between Wells Fargo Company and Citigroup. You can compare the effects of market volatilities on Wells Fargo 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 Wells Fargo with a short position of Citigroup. See also your portfolio center
. Please also check ongoing floating volatility patterns of Wells Fargo
Wells Fargo Company vs. Citigroup Inc
Considering 30-days investment horizon, Wells Fargo Company is expected to generate 0.89 times more return on investment than Citigroup. However, Wells Fargo Company is 1.12 times less risky than Citigroup. It trades about 0.12 of its potential returns per unit of risk. Citigroup is currently generating about -0.04 per unit of risk. If you would invest 5,656 in Wells Fargo Company on July 17, 2018 and sell it today you would earn a total of 143.00 from holding Wells Fargo Company or generate 2.53% return on investment over 30 days.
Pair Corralation between Wells Fargo and Citigroup
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Company and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Wells Fargo 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 Wells Fargo Company 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 Wells Fargo i.e. Wells Fargo and Citigroup go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Wells Fargo Company are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions.
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