Correlation Between Mfs Blended and Citigroup
Can any of the company-specific risk be diversified away by investing in both Mfs Blended 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 Mfs Blended and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mfs Blended Research and Citigroup, you can compare the effects of market volatilities on Mfs Blended 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 Mfs Blended with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mfs Blended and Citigroup.
Diversification Opportunities for Mfs Blended and Citigroup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mfs and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Blended Research and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Mfs Blended 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 Mfs Blended Research 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 Mfs Blended i.e., Mfs Blended and Citigroup go up and down completely randomly.
Pair Corralation between Mfs Blended and Citigroup
If you would invest 4,567 in Citigroup on January 26, 2024 and sell it today you would earn a total of 1,680 from holding Citigroup or generate 36.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Mfs Blended Research vs. Citigroup
Performance |
| Timeline |
| Mfs Blended Research |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Citigroup |
Mfs Blended and Citigroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mfs Blended and Citigroup
The main advantage of trading using opposite Mfs Blended and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mfs Blended 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.| Mfs Blended vs. Fidelity Advisor Health | Mfs Blended vs. Baron Health Care | Mfs Blended vs. Prudential Health Sciences | Mfs Blended vs. Deutsche Health And |
| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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