Correlation Analysis Between Citigroup and Chevron

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
Symbolsvs

Citigroup Inc  vs.  Chevron Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to under-perform the Chevron. In addition to that, Citigroup is 1.16 times more volatile than Chevron Corporation. It trades about -0.18 of its total potential returns per unit of risk. Chevron Corporation is currently generating about 0.02 per unit of volatility. If you would invest  11,426  in Chevron Corporation on November 11, 2018 and sell it today you would earn a total of  99.00  from holding Chevron Corporation or generate 0.87% return on investment over 30 days.

Pair Corralation between Citigroup and Chevron

0.53
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Citigroup Inc diversification synergy

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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Citigroup  
0

Risk-Adjusted Performance

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions.
Chevron  
1

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Chevron Corporation are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1048.03

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
Search macroaxis.com