Correlation Analysis Between Citigroup and BSE

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

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 1.42 times more return on investment than BSE. However, Citigroup is 1.42 times more volatile than BSE. It trades about 0.04 of its potential returns per unit of risk. BSE is currently generating about -0.03 per unit of risk. If you would invest  6,691  in Citigroup on August 22, 2019 and sell it today you would earn a total of  206.00  from holding Citigroup or generate 3.08% return on investment over 30 days.

Pair Corralation between Citigroup and BSE

-0.15
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Citigroup and BSE

Citigroup Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and BSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BSE and Citigroup 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 Citigroup are associated (or correlated) with BSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSE has no effect on the direction of Citigroup i.e. Citigroup and BSE go up and down completely randomly.
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