Correlation Analysis Between Citigroup and Apple

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

Citigroup Inc  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 1.55 times more return on investment than Apple. However, Citigroup is 1.55 times more volatile than Apple. It trades about 0.15 of its potential returns per unit of risk. Apple is currently generating about 0.13 per unit of risk. If you would invest  6,678  in Citigroup on June 19, 2018 and sell it today you would earn a total of  307.00  from holding Citigroup or generate 4.6% return on investment over 30 days.

Pair Corralation between Citigroup and Apple

0.82
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Citigroup  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Apple  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1183.86

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