This module allows you to analyze existing cross correlation between Citigroup and JP Morgan Chase Co. You can compare the effects of market volatilities on Citigroup and JP Morgan 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 JP Morgan. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and JP Morgan.
|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 new stock price disturbance, may contribute to short term losses for the investors.
|JP Morgan Chase|
Compared to the overall equity markets, risk-adjusted returns on investments in JP Morgan Chase Co are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, JP Morgan may actually be approaching a critical reversion point that can send shares even higher in November 2019.
Citigroup and JP Morgan Volatility Contrast
Predicted Return Density
Citigroup Inc vs. JP Morgan Chase Co
Taking into account the 30 trading days horizon, Citigroup is expected to generate 14.6 times less return on investment than JP Morgan. In addition to that, Citigroup is 1.23 times more volatile than JP Morgan Chase Co. It trades about 0.0 of its total potential returns per unit of risk. JP Morgan Chase Co is currently generating about 0.07 per unit of volatility. If you would invest 11,354 in JP Morgan Chase Co on September 17, 2019 and sell it today you would earn a total of 681.00 from holding JP Morgan Chase Co or generate 6.0% return on investment over 30 days.
Pair Corralation between Citigroup and JP Morgan
|Time Period||3 Months [change]|
Diversification Opportunities for Citigroup and JP Morgan
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and JP Morgan Chase Co in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on JP Morgan Chase 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 JP Morgan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JP Morgan Chase has no effect on the direction of Citigroup i.e. Citigroup and JP Morgan go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.