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Correlation Between ICB BIOTECHNOLOGY and Citigroup

Analyzing existing cross correlation between ICB BIOTECHNOLOGY and Citigroup. You can compare the effects of market volatilities on ICB BIOTECHNOLOGY 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 ICB BIOTECHNOLOGY with a short position of Citigroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of ICB BIOTECHNOLOGY and Citigroup.

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Diversification Opportunities for ICB BIOTECHNOLOGY and Citigroup

ICB BIOTECHNOLOGY diversification synergy
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ICB
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Pay attention - limited upside

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

Pair Corralation between ICB BIOTECHNOLOGY and Citigroup

If you would invest  7,487  in Citigroup on January 21, 2020 and sell it today you would earn a total of  375.00  from holding Citigroup or generate 5.01% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

ICB BIOTECHNOLOGY  vs.  Citigroup Inc

 Performance (%) 
    
  Timeline 
ICB BIOTECHNOLOGY 
00

Risk-Adjusted Performance

Over the last 30 days ICB BIOTECHNOLOGY has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, ICB BIOTECHNOLOGY is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Citigroup 
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. 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.

ICB BIOTECHNOLOGY and Citigroup Volatility Contrast

ICB BIOTECHNOLOGY

Pair trading matchups for ICB BIOTECHNOLOGY

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