Correlation Between AKSH OPTIFIBRE and Citigroup

By analyzing existing cross correlation between AKSH OPTIFIBRE and Citigroup, you can compare the effects of market volatilities on AKSH OPTIFIBRE 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 AKSH OPTIFIBRE with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of AKSH OPTIFIBRE and Citigroup.

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Can any of the company-specific risk be diversified away by investing in both AKSH OPTIFIBRE 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 AKSH OPTIFIBRE and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for AKSH OPTIFIBRE and Citigroup

0.0
  Correlation Coefficient
AKSH OPTIFIBRE
Citigroup

Pay attention - limited upside

The 3 months correlation between AKSHOPTFBR and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AKSH OPTIFIBRE and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and AKSH OPTIFIBRE 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 AKSH OPTIFIBRE 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 AKSH OPTIFIBRE i.e. AKSH OPTIFIBRE and Citigroup go up and down completely randomly.

Pair Corralation between AKSH OPTIFIBRE and Citigroup

If you would invest  4,426  in Citigroup on June 7, 2020 and sell it today you would earn a total of  771.00  from holding Citigroup or generate 17.42% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

AKSH OPTIFIBRE  vs.  Citigroup Inc

 Performance (%) 
      Timeline 
AKSH OPTIFIBRE 
00

AKSH OPTIFIBRE Risk-Adjusted Performance

Over the last 30 days AKSH OPTIFIBRE has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, AKSH OPTIFIBRE is not utilizing all of its potentials. The current stock price uproar, may contribute to short horizon losses for the private investors.
Citigroup 
55

Citigroup Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite somewhat sluggish basic indicators, Citigroup sustained solid returns over the last few months and may actually be approaching a breakup point.

AKSH OPTIFIBRE and Citigroup Volatility Contrast

Check out your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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