This module allows you to analyze existing cross correlation between Citigroup and Chevron Corporation. You can compare the effects of market volatilities on Citigroup and Chevron 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 Chevron. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Chevron.
|Horizon||30 Days Login to change|
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 current stock price disturbance, may contribute to short term losses for the investors.
Over the last 30 days Chevron Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite latest unsteady performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Citigroup and Chevron Volatility Contrast
Predicted Return Density
Citigroup Inc vs. Chevron Corp.
Taking into account the 30 trading days horizon, Citigroup is expected to generate 1.49 times more return on investment than Chevron. However, Citigroup is 1.49 times more volatile than Chevron Corporation. It trades about -0.01 of its potential returns per unit of risk. Chevron Corporation is currently generating about -0.08 per unit of risk. If you would invest 7,125 in Citigroup on September 16, 2019 and sell it today you would lose (175.00) from holding Citigroup or give up 2.46% of portfolio value over 30 days.
Pair Corralation between Citigroup and Chevron
|Time Period||3 Months [change]|
Diversification Opportunities for Citigroup and Chevron
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and Chevron Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Chevron 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 Chevron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chevron has no effect on the direction of Citigroup i.e. Citigroup and Chevron go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.