Pair Correlation Between Citigroup and Home Depot

This module allows you to analyze existing cross correlation between Citigroup Inc and The Home Depot Inc. You can compare the effects of market volatilities on Citigroup and Home Depot 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 Home Depot. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Home Depot.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Citigroup Inc  vs   The Home Depot Inc
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  17,206  in The Home Depot Inc on October 25, 2017 and sell it today you would earn a total of  0.00  from holding The Home Depot Inc or generate 0.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Citigroup and Home Depot
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and The Home Depot Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on The Home Depot 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 Inc are associated (or correlated) with Home Depot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of The Home Depot has no effect on the direction of Citigroup i.e. Citigroup and Home Depot go up and down completely randomly.

Comparative Volatility