Correlation Analysis Between Citigroup and NASDAQ UK

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

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  NASDAQ UK

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 1.13 times more return on investment than NASDAQ UK. However, Citigroup is 1.13 times more volatile than NASDAQ UK. It trades about 0.2 of its potential returns per unit of risk. NASDAQ UK is currently generating about 0.06 per unit of risk. If you would invest  6,195  in Citigroup on October 22, 2019 and sell it today you would earn a total of  1,195  from holding Citigroup or generate 19.29% return on investment over 30 days.

Pair Corralation between Citigroup and NASDAQ UK

0.17
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy91.43%
ValuesDaily Returns

Diversification Opportunities for Citigroup and NASDAQ UK

Citigroup Inc diversification synergy

Average diversification

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