Correlation Analysis Between Principal Financial and Citizens

This module allows you to analyze existing cross correlation between Principal Financial Group and Citizens. You can compare the effects of market volatilities on Principal Financial and Citizens 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 Principal Financial with a short position of Citizens. See also your portfolio center. Please also check ongoing floating volatility patterns of Principal Financial and Citizens.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Principal Financial  
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Risk-Adjusted Performance

Over the last 30 days Principal Financial Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unsteady performance, the Stock's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.
Citizens  
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Risk-Adjusted Performance

Over the last 30 days Citizens has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the company investors.

Principal Financial and Citizens Volatility Contrast

 Predicted Return Density 
      Returns 

Principal Financial Group Inc  vs.  Citizens Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Principal Financial Group is expected to generate 0.92 times more return on investment than Citizens. However, Principal Financial Group is 1.09 times less risky than Citizens. It trades about -0.09 of its potential returns per unit of risk. Citizens is currently generating about -0.22 per unit of risk. If you would invest  5,643  in Principal Financial Group on July 25, 2019 and sell it today you would lose (412.00)  from holding Principal Financial Group or give up 7.3% of portfolio value over 30 days.

Pair Corralation between Principal Financial and Citizens

0.95
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Principal Financial and Citizens

Principal Financial Group Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Principal Financial Group Inc and Citizens Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citizens and Principal Financial 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 Principal Financial Group are associated (or correlated) with Citizens. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citizens has no effect on the direction of Principal Financial i.e. Principal Financial and Citizens go up and down completely randomly.
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.


 
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