Correlation Between Citigroup and Beamr Imaging
Can any of the company-specific risk be diversified away by investing in both Citigroup and Beamr Imaging at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Citigroup and Beamr Imaging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Beamr Imaging Ltd, you can compare the effects of market volatilities on Citigroup and Beamr Imaging 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 Beamr Imaging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Beamr Imaging.
Diversification Opportunities for Citigroup and Beamr Imaging
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Citigroup and Beamr is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Beamr Imaging Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beamr Imaging 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 Beamr Imaging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beamr Imaging has no effect on the direction of Citigroup i.e., Citigroup and Beamr Imaging go up and down completely randomly.
Pair Corralation between Citigroup and Beamr Imaging
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.42 times more return on investment than Beamr Imaging. However, Citigroup is 2.4 times less risky than Beamr Imaging. It trades about 0.06 of its potential returns per unit of risk. Beamr Imaging Ltd is currently generating about -0.16 per unit of risk. If you would invest 9,515 in Citigroup on August 26, 2025 and sell it today you would earn a total of 454.00 from holding Citigroup or generate 4.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Beamr Imaging Ltd
Performance |
| Timeline |
| Citigroup |
| Beamr Imaging |
Citigroup and Beamr Imaging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Beamr Imaging
The main advantage of trading using opposite Citigroup and Beamr Imaging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Beamr Imaging 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 Beamr Imaging will offset losses from the drop in Beamr Imaging's long position.| Citigroup vs. Heritage Insurance Hldgs | Citigroup vs. Fidelis Insurance Holdings | Citigroup vs. Net Lease Office | Citigroup vs. Mitsubishi UFJ Lease |
| Beamr Imaging vs. AGNC Investment Corp | Beamr Imaging vs. Alternative Investment | Beamr Imaging vs. AG Mortgage Investment | Beamr Imaging vs. Gladstone Investment |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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