Correlation Analysis Between American Airlines and Citigroup

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

American Airlines  
0

Risk-Adjusted Performance

Over the last 30 days American Airlines Group 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.

American Airlines and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

American Airlines Group Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, American Airlines is expected to generate 1.51 times less return on investment than Citigroup. In addition to that, American Airlines is 1.79 times more volatile than Citigroup. It trades about 0.15 of its total potential returns per unit of risk. Citigroup is currently generating about 0.4 per unit of volatility. If you would invest  4,926  in Citigroup on January 21, 2019 and sell it today you would earn a total of  1,535  from holding Citigroup or generate 31.16% return on investment over 30 days.

Pair Corralation between American Airlines and Citigroup

0.8
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for American Airlines and Citigroup

American Airlines Group Inc diversification synergy

Very poor diversification

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

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Citigroup

Pair trading matchups for Citigroup

See also your portfolio center. Please also try Financial Widgets module to easily integrated macroaxis content with over 30 different plug-and-play financial widgets.


 
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