Correlation Between Citigroup and Shanghai Yanpu
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By analyzing existing cross correlation between Citigroup and Shanghai Yanpu Metal, you can compare the effects of market volatilities on Citigroup and Shanghai Yanpu 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 Citigroup with a short position of Shanghai Yanpu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Shanghai Yanpu.
Diversification Opportunities for Citigroup and Shanghai Yanpu
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and Shanghai is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Shanghai Yanpu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Yanpu Metal and Citigroup 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 Citigroup are associated (or correlated) with Shanghai Yanpu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Yanpu Metal has no effect on the direction of Citigroup i.e., Citigroup and Shanghai Yanpu go up and down completely randomly.
Pair Corralation between Citigroup and Shanghai Yanpu
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.67 times more return on investment than Shanghai Yanpu. However, Citigroup is 1.49 times less risky than Shanghai Yanpu. It trades about 0.26 of its potential returns per unit of risk. Shanghai Yanpu Metal is currently generating about -0.16 per unit of risk. If you would invest 10,085 in Citigroup on September 7, 2025 and sell it today you would earn a total of 803.00 from holding Citigroup or generate 7.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citigroup vs. Shanghai Yanpu Metal
Performance |
| Timeline |
| Citigroup |
| Shanghai Yanpu Metal |
Citigroup and Shanghai Yanpu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Shanghai Yanpu
The main advantage of trading using opposite Citigroup and Shanghai Yanpu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Shanghai Yanpu can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Shanghai Yanpu will offset losses from the drop in Shanghai Yanpu's long position.| Citigroup vs. Canadian Imperial Bank | Citigroup vs. KB Financial Group | Citigroup vs. Nu Holdings | Citigroup vs. Royal Bank of |
| Shanghai Yanpu vs. Beijing Kingsoft Office | Shanghai Yanpu vs. Western Metal Materials | Shanghai Yanpu vs. Sichuan Yahua Industrial | Shanghai Yanpu vs. Queclink Wireless Solutions |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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