Correlation Analysis Between Citigroup and Best Buy

This module allows you to analyze existing cross correlation between Citigroup and Best Buy Co. You can compare the effects of market volatilities on Citigroup and Best Buy 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 Best Buy. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Best Buy.
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.
Best Buy  
00

Risk-Adjusted Performance

Over the last 30 days Best Buy Co has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Best Buy is not utilizing all of its potentials. The prevailing stock price disturbance, may contribute to short term losses for the investors.

Citigroup and Best Buy Volatility Contrast

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  Best Buy Co Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 0.69 times more return on investment than Best Buy. However, Citigroup is 1.46 times less risky than Best Buy. It trades about 0.0 of its potential returns per unit of risk. Best Buy Co is currently generating about -0.03 per unit of risk. If you would invest  7,058  in Citigroup on September 20, 2019 and sell it today you would lose (84.00)  from holding Citigroup or give up 1.19% of portfolio value over 30 days.

Pair Corralation between Citigroup and Best Buy

0.63
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Citigroup and Best Buy

Citigroup Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and Best Buy Co Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Best Buy 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 Best Buy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Best Buy has no effect on the direction of Citigroup i.e. Citigroup and Best Buy go up and down completely randomly.
See also your portfolio center. Please also try CEO Directory module to screen ceos from public companies around the world.


 
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