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
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Comparative Performance

Citigroup  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Despite somewhat sluggish basic indicators, Citigroup may actually be approaching a critical reversion point that can send shares even higher in January 2020.
Chevron  
00

Risk-Adjusted Performance

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

Citigroup and Chevron Volatility Contrast

 Predicted Return Density 
      Returns 

Citigroup Inc  vs.  Chevron Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Citigroup is expected to generate 0.98 times more return on investment than Chevron. However, Citigroup is 1.02 times less risky than Chevron. It trades about 0.12 of its potential returns per unit of risk. Chevron Corporation is currently generating about -0.03 per unit of risk. If you would invest  6,930  in Citigroup on November 11, 2019 and sell it today you would earn a total of  648.00  from holding Citigroup or generate 9.35% return on investment over 30 days.

Pair Corralation between Citigroup and Chevron

0.16
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Citigroup and Chevron

Citigroup Inc diversification synergy

Average 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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