Correlation Analysis Between ING Group and Citigroup

Analyzing existing cross correlation between ING Group N V and Citigroup. You can compare the effects of market volatilities on ING Group 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 ING Group with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of ING Group and Citigroup.
Horizon     30 Days    Login   to change
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Comparative Performance

ING Group N  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ING Group N V are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In spite of rather sound fundamental drivers, ING Group is not utilizing all of its potentials. The existing stock price tumult, may contribute to shorter-term losses for the shareholders.
Citigroup  
1313

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days. Despite somewhat conflicting basic indicators, Citigroup sustained solid returns over the last few months and may actually be approaching a breakup point.

ING Group and Citigroup Volatility Contrast

 Predicted Return Density 
    
  Returns 

ING Group N V  vs.  Citigroup Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, ING Group is expected to generate 4.87 times less return on investment than Citigroup. In addition to that, ING Group is 1.04 times more volatile than Citigroup. It trades about 0.04 of its total potential returns per unit of risk. Citigroup is currently generating about 0.2 per unit of volatility. If you would invest  7,181  in Citigroup on December 19, 2019 and sell it today you would earn a total of  931.00  from holding Citigroup or generate 12.96% return on investment over 30 days.

Pair Corralation between ING Group and Citigroup

0.82
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ING Group and Citigroup

ING Group N V diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding ING Group N V and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and ING Group 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 ING Group N V 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 ING Group i.e. ING Group and Citigroup go up and down completely randomly.
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.