- Companies in United States
- Peer Analysis
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|
Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. Despite somewhat sluggish basic indicators, Citigroup sustained solid returns over the last few months and may actually be approaching a breakup point.
Compared to the overall equity markets, risk-adjusted returns on investments in Best Buy Co are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. Inspite fairly inconsistent basic indicators, Best Buy showed solid returns over the last few months and may actually be approaching a breakup point.
Citigroup and Best Buy Volatility Contrast
Predicted Return Density
Citigroup Inc vs. Best Buy Co Inc
Taking into account the 30 trading days horizon, Citigroup is expected to generate 3.0 times less return on investment than Best Buy. But when comparing it to its historical volatility, Citigroup is 1.69 times less risky than Best Buy. It trades about 0.14 of its potential returns per unit of risk. Best Buy Co is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 6,031 in Best Buy Co on March 26, 2019 and sell it today you would earn a total of 1,438 from holding Best Buy Co or generate 23.84% return on investment over 30 days.
Pair Corralation between Citigroup and Best Buy
|Time Period||2 Months [change]|
Diversification Opportunities for Citigroup and Best Buy
Very weak 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.
Pair trading matchups for Citigroup
Best Buy Co
Pair trading matchups for Best Buy
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.