Correlation Between Citigroup and MicroCloud Hologram
Can any of the company-specific risk be diversified away by investing in both Citigroup and MicroCloud Hologram 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 MicroCloud Hologram into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and MicroCloud Hologram, you can compare the effects of market volatilities on Citigroup and MicroCloud Hologram 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 MicroCloud Hologram. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and MicroCloud Hologram.
Diversification Opportunities for Citigroup and MicroCloud Hologram
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Citigroup and MicroCloud is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and MicroCloud Hologram in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MicroCloud Hologram 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 MicroCloud Hologram. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MicroCloud Hologram has no effect on the direction of Citigroup i.e., Citigroup and MicroCloud Hologram go up and down completely randomly.
Pair Corralation between Citigroup and MicroCloud Hologram
Taking into account the 90-day investment horizon Citigroup is expected to generate 0.28 times more return on investment than MicroCloud Hologram. However, Citigroup is 3.53 times less risky than MicroCloud Hologram. It trades about 0.06 of its potential returns per unit of risk. MicroCloud Hologram is currently generating about -0.02 per unit of risk. If you would invest 9,204 in Citigroup on July 20, 2025 and sell it today you would earn a total of 503.00 from holding Citigroup or generate 5.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citigroup vs. MicroCloud Hologram
Performance |
| Timeline |
| Citigroup |
| MicroCloud Hologram |
Citigroup and MicroCloud Hologram Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and MicroCloud Hologram
The main advantage of trading using opposite Citigroup and MicroCloud Hologram positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, MicroCloud Hologram 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 MicroCloud Hologram will offset losses from the drop in MicroCloud Hologram's long position.| Citigroup vs. Mitsubishi UFJ Financial | Citigroup vs. Royal Bank of | Citigroup vs. Bank of America | Citigroup vs. Wells Fargo |
| MicroCloud Hologram vs. Eltek | MicroCloud Hologram vs. Cps Technologies | MicroCloud Hologram vs. Zenvia Inc | MicroCloud Hologram vs. Sono Tek Corp |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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