Correlation Between Citigroup and Bankinvest Virksomhedsoblig
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By analyzing existing cross correlation between Citigroup and Bankinvest Virksomhedsobligationer, you can compare the effects of market volatilities on Citigroup and Bankinvest Virksomhedsoblig 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 Bankinvest Virksomhedsoblig. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Bankinvest Virksomhedsoblig.
Diversification Opportunities for Citigroup and Bankinvest Virksomhedsoblig
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Citigroup and Bankinvest is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Bankinvest Virksomhedsobliga in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bankinvest Virksomhedsoblig 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 Bankinvest Virksomhedsoblig. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bankinvest Virksomhedsoblig has no effect on the direction of Citigroup i.e., Citigroup and Bankinvest Virksomhedsoblig go up and down completely randomly.
Pair Corralation between Citigroup and Bankinvest Virksomhedsoblig
Taking into account the 90-day investment horizon Citigroup is expected to under-perform the Bankinvest Virksomhedsoblig. In addition to that, Citigroup is 4.83 times more volatile than Bankinvest Virksomhedsobligationer. It trades about -0.05 of its total potential returns per unit of risk. Bankinvest Virksomhedsobligationer is currently generating about -0.06 per unit of volatility. If you would invest 10,825 in Bankinvest Virksomhedsobligationer on January 20, 2024 and sell it today you would lose (40.00) from holding Bankinvest Virksomhedsobligationer or give up 0.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 90.91% |
| Values | Daily Returns |
Citigroup vs. Bankinvest Virksomhedsobliga
Performance |
| Timeline |
| Citigroup |
| Bankinvest Virksomhedsoblig |
Citigroup and Bankinvest Virksomhedsoblig Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Bankinvest Virksomhedsoblig
The main advantage of trading using opposite Citigroup and Bankinvest Virksomhedsoblig positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Bankinvest Virksomhedsoblig can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bankinvest Virksomhedsoblig will offset losses from the drop in Bankinvest Virksomhedsoblig's long position.| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
| Bankinvest Virksomhedsoblig vs. Jyske Invest Nye | Bankinvest Virksomhedsoblig vs. Jyske Invest Nye | Bankinvest Virksomhedsoblig vs. Jyske Invest Hjt | Bankinvest Virksomhedsoblig vs. Jyske Invest Lange |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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