Correlation Between Citigroup and 126650DG2
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By analyzing existing cross correlation between Citigroup and CVS HEALTH P, you can compare the effects of market volatilities on Citigroup and 126650DG2 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 126650DG2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and 126650DG2.
Diversification Opportunities for Citigroup and 126650DG2
Significant diversification
The 3 months correlation between Citigroup and 126650DG2 is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup and CVS HEALTH P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CVS HEALTH P 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 126650DG2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CVS HEALTH P has no effect on the direction of Citigroup i.e., Citigroup and 126650DG2 go up and down completely randomly.
Pair Corralation between Citigroup and 126650DG2
Taking into account the 90-day investment horizon Citigroup is expected to generate 1.27 times more return on investment than 126650DG2. However, Citigroup is 1.27 times more volatile than CVS HEALTH P. It trades about -0.07 of its potential returns per unit of risk. CVS HEALTH P is currently generating about -0.27 per unit of risk. If you would invest 10,211 in Citigroup on July 27, 2025 and sell it today you would lose (333.00) from holding Citigroup or give up 3.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Citigroup vs. CVS HEALTH P
Performance |
| Timeline |
| Citigroup |
| CVS HEALTH P |
Citigroup and 126650DG2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citigroup and 126650DG2
The main advantage of trading using opposite Citigroup and 126650DG2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citigroup position performs unexpectedly, 126650DG2 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 126650DG2 will offset losses from the drop in 126650DG2's long position.| Citigroup vs. Mitsubishi UFJ Financial | Citigroup vs. Royal Bank of | Citigroup vs. Bank of America | Citigroup vs. Wells Fargo |
| 126650DG2 vs. SmarTone Telecommunications Holdings | 126650DG2 vs. New Ulm Telecom | 126650DG2 vs. Altigen Communications | 126650DG2 vs. Rogers Communications |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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