Correlation Between Citigroup and Gatechain Token
Can any of the company-specific risk be diversified away by investing in both Citigroup and Gatechain Token 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 Gatechain Token into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Gatechain Token, you can compare the effects of market volatilities on Citigroup and Gatechain Token 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 Gatechain Token. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Gatechain Token.
Diversification Opportunities for Citigroup and Gatechain Token
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Citigroup and Gatechain is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Gatechain Token in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gatechain Token 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 Gatechain Token. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gatechain Token has no effect on the direction of Citigroup i.e., Citigroup and Gatechain Token go up and down completely randomly.
Pair Corralation between Citigroup and Gatechain Token
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.68 times less return on investment than Gatechain Token. But when comparing it to its historical volatility, Citigroup is 1.87 times less risky than Gatechain Token. It trades about 0.05 of its potential returns per unit of risk. Gatechain Token is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,706 in Gatechain Token on May 31, 2025 and sell it today you would earn a total of 33.00 from holding Gatechain Token or generate 1.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Citigroup vs. Gatechain Token
Performance |
| Timeline |
| Citigroup |
| Gatechain Token |
Citigroup and Gatechain Token Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Gatechain Token
The main advantage of trading using opposite Citigroup and Gatechain Token positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Gatechain Token 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 Gatechain Token will offset losses from the drop in Gatechain Token's long position.| Citigroup vs. Toronto Dominion Bank | Citigroup vs. Nu Holdings | Citigroup vs. Royal Bank of | Citigroup vs. Bank of Montreal |
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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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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