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.
Horizon     30 Days    Login   to change
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Comparative Performance

Citigroup  
00

Risk-Adjusted Performance

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Citigroup is not utilizing all of its potentials. The new stock price disturbance, may contribute to short term losses for the investors.
Apple  
99

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. Even with considerably conflicting technical indicators, Apple revealed solid returns over the last few months and may actually be approaching a breakup point.

Citigroup and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to under-perform the Apple. In addition to that, Citigroup is 1.06 times more volatile than Apple. It trades about 0.0 of its total potential returns per unit of risk. Apple is currently generating about 0.14 per unit of volatility. If you would invest  20,182  in Apple on September 17, 2019 and sell it today you would earn a total of  3,255  from holding Apple or generate 16.13% return on investment over 30 days.

Pair Corralation between Citigroup and Apple

0.4
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Citigroup and Apple

Citigroup Inc diversification synergy

Very weak 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.
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..


 
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