Correlation Analysis Between Citigroup and NIKKEI 225

This module allows you to analyze existing cross correlation between Citigroup and NIKKEI 225. You can compare the effects of market volatilities on Citigroup and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and NIKKEI 225.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 1.62 times less return on investment than NIKKEI 225. In addition to that, Citigroup is 1.04 times more volatile than NIKKEI 225. It trades about 0.08 of its total potential returns per unit of risk. NIKKEI 225 is currently generating about 0.13 per unit of volatility. If you would invest  2,062,291  in NIKKEI 225 on February 17, 2019 and sell it today you would earn a total of  93,954  from holding NIKKEI 225 or generate 4.56% return on investment over 30 days.

Pair Corralation between Citigroup and NIKKEI 225

0.47
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy82.5%
ValuesDaily Returns

Diversification Opportunities for Citigroup and NIKKEI 225

Citigroup Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of Citigroup i.e. Citigroup and NIKKEI 225 go up and down completely randomly.
    Optimize

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
Search macroaxis.com