Correlation Between Citigroup and Reliq Health
Can any of the company-specific risk be diversified away by investing in both Citigroup and Reliq Health 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 Reliq Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citigroup and Reliq Health Technologies, you can compare the effects of market volatilities on Citigroup and Reliq Health 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 Reliq Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Reliq Health.
Diversification Opportunities for Citigroup and Reliq Health
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citigroup and Reliq is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and Reliq Health Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Reliq Health Technologies 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 Reliq Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Reliq Health Technologies has no effect on the direction of Citigroup i.e., Citigroup and Reliq Health go up and down completely randomly.
Pair Corralation between Citigroup and Reliq Health
If you would invest 9,630 in Citigroup on August 27, 2025 and sell it today you would earn a total of 339.00 from holding Citigroup or generate 3.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
Citigroup vs. Reliq Health Technologies
Performance |
| Timeline |
| Citigroup |
| Reliq Health Technologies |
Citigroup and Reliq Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and Reliq Health
The main advantage of trading using opposite Citigroup and Reliq Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, Reliq Health 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 Reliq Health will offset losses from the drop in Reliq Health's long position.| Citigroup vs. Heritage Insurance Hldgs | Citigroup vs. Fidelis Insurance Holdings | Citigroup vs. Net Lease Office | Citigroup vs. Mitsubishi UFJ Lease |
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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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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