Correlation Analysis Between Chevron and Citigroup

This module allows you to analyze existing cross correlation between Chevron Corporation and Citigroup. You can compare the effects of market volatilities on Chevron and Citigroup 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 Chevron with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of Chevron and Citigroup.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Chevron  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Chevron Corporation are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. Inspite fairly unsteady basic indicators, Chevron may actually be approaching a critical reversion point that can send shares even higher in July 2019.
Citigroup  
00

Risk-Adjusted Performance

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.

Chevron and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

Chevron Corp.  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Chevron Corporation is expected to generate 0.69 times more return on investment than Citigroup. However, Chevron Corporation is 1.45 times less risky than Citigroup. It trades about 0.17 of its potential returns per unit of risk. Citigroup is currently generating about -0.04 per unit of risk. If you would invest  11,596  in Chevron Corporation on May 26, 2019 and sell it today you would earn a total of  895.00  from holding Chevron Corporation or generate 7.72% return on investment over 30 days.

Pair Corralation between Chevron and Citigroup

0.02
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Chevron and Citigroup

Chevron Corp. diversification synergy

Significant diversification

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