Correlation Between SKAKO AS and Citigroup

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

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

Diversification Opportunities for SKAKO AS and Citigroup

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Correlation
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Pay attention - limited upside

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

Pair Corralation between SKAKO AS and Citigroup

If you would invest (100.00)  in SKAKO AS on April 30, 2020 and sell it today you would earn a total of  100.00  from holding SKAKO AS or generate -100.0% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

SKAKO AS  vs.  Citigroup Inc

 Performance (%) 
      Timeline 
SKAKO AS 
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SKAKO AS Risk-Adjusted Performance

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

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in June 2020. The current disturbance may also be a sign of long term up-swing for the company investors.

SKAKO AS and Citigroup Volatility Contrast

SKAKO AS

Pair trading matchups for SKAKO AS

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