Correlation Between DCB Bank and Citizens Financial
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By analyzing existing cross correlation between DCB Bank Limited and Citizens Financial Services, you can compare the effects of market volatilities on DCB Bank and Citizens Financial 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 DCB Bank with a short position of Citizens Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of DCB Bank and Citizens Financial.
Diversification Opportunities for DCB Bank and Citizens Financial
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between DCB and Citizens is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding DCB Bank Limited and Citizens Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citizens Financial and DCB Bank 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 DCB Bank Limited are associated (or correlated) with Citizens Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citizens Financial has no effect on the direction of DCB Bank i.e., DCB Bank and Citizens Financial go up and down completely randomly.
Pair Corralation between DCB Bank and Citizens Financial
Assuming the 90 days trading horizon DCB Bank Limited is expected to generate 1.12 times more return on investment than Citizens Financial. However, DCB Bank is 1.12 times more volatile than Citizens Financial Services. It trades about 0.27 of its potential returns per unit of risk. Citizens Financial Services is currently generating about -0.02 per unit of risk. If you would invest 12,021 in DCB Bank Limited on August 28, 2025 and sell it today you would earn a total of 6,126 from holding DCB Bank Limited or generate 50.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DCB Bank Limited vs. Citizens Financial Services
Performance |
| Timeline |
| DCB Bank Limited |
| Citizens Financial |
DCB Bank and Citizens Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DCB Bank and Citizens Financial
The main advantage of trading using opposite DCB Bank and Citizens Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DCB Bank position performs unexpectedly, Citizens Financial 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 Citizens Financial will offset losses from the drop in Citizens Financial's long position.| DCB Bank vs. Cambridge Technology Enterprises | DCB Bank vs. Tera Software Limited | DCB Bank vs. Computer Age Management | DCB Bank vs. SANOFI S HEALTHC |
| Citizens Financial vs. ISPAF | Citizens Financial vs. Storage Computer | Citizens Financial vs. BCP Investment Corp | Citizens Financial vs. Video Display |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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