Correlation Between Citigroup and Emerald Expositions
Can any of the company-specific risk be diversified away by investing in both Citigroup and Emerald Expositions 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 Emerald Expositions into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Emerald Expositions Events, you can compare the effects of market volatilities on Citigroup and Emerald Expositions 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 Emerald Expositions. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Emerald Expositions.
Diversification Opportunities for Citigroup and Emerald Expositions
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citigroup and Emerald is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Emerald Expositions Events in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emerald Expositions 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 Emerald Expositions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emerald Expositions has no effect on the direction of Citigroup i.e., Citigroup and Emerald Expositions go up and down completely randomly.
Pair Corralation between Citigroup and Emerald Expositions
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.68 times more return on investment than Emerald Expositions. However, Citigroup is 1.48 times less risky than Emerald Expositions. It trades about 0.05 of its potential returns per unit of risk. Emerald Expositions Events is currently generating about -0.17 per unit of risk. If you would invest 9,444 in Citigroup on August 25, 2025 and sell it today you would earn a total of 426.00 from holding Citigroup or generate 4.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. Emerald Expositions Events
Performance |
| Timeline |
| Citigroup |
| Emerald Expositions |
Citigroup and Emerald Expositions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Emerald Expositions
The main advantage of trading using opposite Citigroup and Emerald Expositions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Emerald Expositions 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 Emerald Expositions will offset losses from the drop in Emerald Expositions' long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. Royal Bank of | Citigroup vs. Canadian Imperial Bank |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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