Correlation Between Citigroup and DKIDMOBL
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By analyzing existing cross correlation between Citigroup and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on Citigroup and DKIDMOBL 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 DKIDMOBL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and DKIDMOBL.
Diversification Opportunities for Citigroup and DKIDMOBL
Very weak diversification
The 3 months correlation between Citigroup and DKIDMOBL is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Investeringsforeningen Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen 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 DKIDMOBL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Citigroup i.e., Citigroup and DKIDMOBL go up and down completely randomly.
Pair Corralation between Citigroup and DKIDMOBL
Taking into account the 90-day investment horizon Citigroup is expected to generate 7.0 times more return on investment than DKIDMOBL. However, Citigroup is 7.0 times more volatile than Investeringsforeningen Danske Invest. It trades about 0.04 of its potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about -0.01 per unit of risk. If you would invest 4,784 in Citigroup on January 26, 2024 and sell it today you would earn a total of 1,463 from holding Citigroup or generate 30.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
Citigroup vs. Investeringsforeningen Danske
Performance |
| Timeline |
| Citigroup |
| Investeringsforeningen |
Citigroup and DKIDMOBL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and DKIDMOBL
The main advantage of trading using opposite Citigroup and DKIDMOBL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, DKIDMOBL can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in DKIDMOBL will offset losses from the drop in DKIDMOBL's long position.| Citigroup vs. Aquagold International | Citigroup vs. Thrivent High Yield | Citigroup vs. Morningstar Unconstrained Allocation | Citigroup vs. Via Renewables |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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