Correlation Between HI TECH and Citigroup

By analyzing existing cross correlation between HI TECH WINDING and Citigroup, you can compare the effects of market volatilities on HI TECH 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 HI TECH with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of HI TECH and Citigroup.

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Can any of the company-specific risk be diversified away by investing in both HI TECH and Citigroup at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining HI TECH and Citigroup into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for HI TECH and Citigroup

0.0
  Correlation Coefficient
HI TECH WINDING
Citigroup

Pay attention - limited upside

The 3 months correlation between HITECHWIND and Citigroup is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HI TECH WINDING SYSTEMS LIMITE and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and HI TECH 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 HI TECH WINDING 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 HI TECH i.e. HI TECH and Citigroup go up and down completely randomly.

Pair Corralation between HI TECH and Citigroup

If you would invest  4,741  in Citigroup on June 8, 2020 and sell it today you would earn a total of  291.00  from holding Citigroup or generate 6.14% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

HI TECH WINDING SYSTEMS LIMITE  vs.  Citigroup Inc

 Performance (%) 
      Timeline 
HI TECH WINDING 
00

HI TECH Risk-Adjusted Performance

Over the last 30 days HI TECH WINDING has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable primary indicators, HI TECH is not utilizing all of its potentials. The current stock price fuss, may contribute to near short-term losses for the insiders.
Citigroup 
22

Citigroup Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Citigroup sustained solid returns over the last few months and may actually be approaching a breakup point.

HI TECH and Citigroup Volatility Contrast

Check out your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
Macroaxis is not a registered investment advisor or broker/dealer. All investments, including stocks, funds, ETFs, or cryptocurrencies, are speculative and involve substantial risk of loss. We encourage our investors to invest carefully. Much of our information is derived directly from data published by companies or submitted to governmental agencies which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Also, note that past performance is not necessarily indicative of future results. All investments carry risk, and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any investing they choose to do. Hypothetical or simulated performance is not indicative of future results. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown because hypothetical or simulated performance is not necessarily indicative of future results. For more information please visit our terms and condition page