Correlation Between Danske Invest and Citigroup
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By analyzing existing cross correlation between Danske Invest and Citigroup, you can compare the effects of market volatilities on Danske Invest 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 Danske Invest with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Danske Invest and Citigroup.
Diversification Opportunities for Danske Invest and Citigroup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Danske and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Danske Invest and Citigroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Danske Invest 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 Danske Invest 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 Danske Invest i.e., Danske Invest and Citigroup go up and down completely randomly.
Pair Corralation between Danske Invest and Citigroup
If you would invest 4,688 in Citigroup on January 19, 2024 and sell it today you would earn a total of 1,144 from holding Citigroup or generate 24.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Danske Invest vs. Citigroup
Performance |
| Timeline |
| Danske Invest |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
| Citigroup |
Danske Invest and Citigroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Danske Invest and Citigroup
The main advantage of trading using opposite Danske Invest and Citigroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Danske Invest position performs unexpectedly, Citigroup 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 Citigroup will offset losses from the drop in Citigroup's long position.| Danske Invest vs. Fynske Bank AS | Danske Invest vs. Djurslands Bank | Danske Invest vs. Nordinvestments AS | Danske Invest vs. Danske Andelskassers Bank |
| Citigroup vs. JPMorgan Chase Co | Citigroup vs. Wells Fargo | Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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