Correlation Analysis Between Citigroup and NZSE

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

 Predicted Return Density 

Citigroup Inc  vs.  NZSE

 Performance (%) 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 1.12 times less return on investment than NZSE. In addition to that, Citigroup is 2.27 times more volatile than NZSE. It trades about 0.04 of its total potential returns per unit of risk. NZSE is currently generating about 0.1 per unit of volatility. If you would invest  1,032,729  in NZSE on August 20, 2019 and sell it today you would earn a total of  47,376  from holding NZSE or generate 4.59% return on investment over 30 days.

Pair Corralation between Citigroup and NZSE

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for Citigroup and NZSE

Citigroup Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE 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 NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of Citigroup i.e. Citigroup and NZSE go up and down completely randomly.
See also your portfolio center. Please also try Equity Search module to search for activelly-traded equities including funds and etfs from over 30 global markets.