Correlation Analysis Between Best Buy and Citigroup

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

Comparative Performance

Best Buy  
00

Risk-Adjusted Performance

Over the last 30 days Best Buy Co has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Best Buy is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to short term losses for the investors.
Citigroup  
00

Risk-Adjusted Performance

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Citigroup is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short term losses for the investors.

Best Buy and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

Best Buy Co Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Best Buy Co is expected to under-perform the Citigroup. In addition to that, Best Buy is 1.45 times more volatile than Citigroup. It trades about -0.03 of its total potential returns per unit of risk. Citigroup is currently generating about 0.01 per unit of volatility. If you would invest  7,145  in Citigroup on September 21, 2019 and sell it today you would earn a total of  1.00  from holding Citigroup or generate 0.01% return on investment over 30 days.

Pair Corralation between Best Buy and Citigroup

0.63
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for Best Buy and Citigroup

Best Buy Co Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Best Buy Co Inc and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Best Buy 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 Best Buy Co 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 Best Buy i.e. Best Buy and Citigroup go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
Search macroaxis.com