Correlation Between Healthcare Special and Citadel Income
Can any of the company-specific risk be diversified away by investing in both Healthcare Special and Citadel Income 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 Healthcare Special and Citadel Income into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Healthcare Special Opportunities and Citadel Income, you can compare the effects of market volatilities on Healthcare Special and Citadel Income 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 Healthcare Special with a short position of Citadel Income. Check out your portfolio center. Please also check ongoing floating volatility patterns of Healthcare Special and Citadel Income.
Diversification Opportunities for Healthcare Special and Citadel Income
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Healthcare and Citadel is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Healthcare Special Opportuniti and Citadel Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citadel Income and Healthcare Special 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 Healthcare Special Opportunities are associated (or correlated) with Citadel Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citadel Income has no effect on the direction of Healthcare Special i.e., Healthcare Special and Citadel Income go up and down completely randomly.
Pair Corralation between Healthcare Special and Citadel Income
Assuming the 90 days trading horizon Healthcare Special Opportunities is expected to generate 0.98 times more return on investment than Citadel Income. However, Healthcare Special Opportunities is 1.02 times less risky than Citadel Income. It trades about 0.03 of its potential returns per unit of risk. Citadel Income is currently generating about 0.01 per unit of risk. If you would invest 1,092 in Healthcare Special Opportunities on August 26, 2025 and sell it today you would earn a total of 19.00 from holding Healthcare Special Opportunities or generate 1.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 50.0% |
| Values | Daily Returns |
Healthcare Special Opportuniti vs. Citadel Income
Performance |
| Timeline |
| Healthcare Special |
| Citadel Income |
Healthcare Special and Citadel Income Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Healthcare Special and Citadel Income
The main advantage of trading using opposite Healthcare Special and Citadel Income positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Healthcare Special position performs unexpectedly, Citadel Income 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 Citadel Income will offset losses from the drop in Citadel Income's long position.| Healthcare Special vs. Citadel Income | Healthcare Special vs. Commerce Split Corp | Healthcare Special vs. Canadian Large Cap | Healthcare Special vs. Energy Income |
| Citadel Income vs. Commerce Split Corp | Citadel Income vs. Energy Income | Citadel Income vs. Healthcare Special Opportunities |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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