Correlation Between BankInvest Virksomhedsoblig and Citigroup
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By analyzing existing cross correlation between BankInvest Virksomhedsobligatione and Citigroup, you can compare the effects of market volatilities on BankInvest Virksomhedsoblig 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 BankInvest Virksomhedsoblig with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Virksomhedsoblig and Citigroup.
Diversification Opportunities for BankInvest Virksomhedsoblig and Citigroup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BankInvest and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Virksomhedsobligati and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and BankInvest Virksomhedsoblig 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 BankInvest Virksomhedsobligatione 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 BankInvest Virksomhedsoblig i.e., BankInvest Virksomhedsoblig and Citigroup go up and down completely randomly.
Pair Corralation between BankInvest Virksomhedsoblig and Citigroup
If you would invest 5,063 in Citigroup on January 18, 2024 and sell it today you would earn a total of 754.00 from holding Citigroup or generate 14.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
BankInvest Virksomhedsobligati vs. Citigroup
Performance |
| Timeline |
| BankInvest Virksomhedsoblig |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
| Citigroup |
BankInvest Virksomhedsoblig and Citigroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Virksomhedsoblig and Citigroup
The main advantage of trading using opposite BankInvest Virksomhedsoblig and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Virksomhedsoblig 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 BankInvest Virksomhedsobligatione 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.
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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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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