Correlation Between Reliq Health and CITIGROUP CDR
Can any of the company-specific risk be diversified away by investing in both Reliq Health and CITIGROUP CDR 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 Reliq Health and CITIGROUP CDR into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Reliq Health Technologies and CITIGROUP CDR, you can compare the effects of market volatilities on Reliq Health and CITIGROUP CDR 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 Reliq Health with a short position of CITIGROUP CDR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Reliq Health and CITIGROUP CDR.
Diversification Opportunities for Reliq Health and CITIGROUP CDR
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Reliq and CITIGROUP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Reliq Health Technologies and CITIGROUP CDR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP CDR and Reliq Health 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 Reliq Health Technologies are associated (or correlated) with CITIGROUP CDR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIGROUP CDR has no effect on the direction of Reliq Health i.e., Reliq Health and CITIGROUP CDR go up and down completely randomly.
Pair Corralation between Reliq Health and CITIGROUP CDR
If you would invest 3,956 in CITIGROUP CDR on August 24, 2025 and sell it today you would earn a total of 151.00 from holding CITIGROUP CDR or generate 3.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Reliq Health Technologies vs. CITIGROUP CDR
Performance |
| Timeline |
| Reliq Health Technologies |
| CITIGROUP CDR |
Reliq Health and CITIGROUP CDR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Reliq Health and CITIGROUP CDR
The main advantage of trading using opposite Reliq Health and CITIGROUP CDR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Reliq Health position performs unexpectedly, CITIGROUP CDR 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 CITIGROUP CDR will offset losses from the drop in CITIGROUP CDR's long position.The effect of pair diversification on risk is to reduce it, but we should note this doesn't apply to all risk types. When we trade pairs against Reliq Health as a counterpart, there is always some inherent risk that will never be diversified away no matter what. This volatility limits the effect of tactical diversification using pair trading. Reliq Health's systematic risk is the inherent uncertainty of the entire market, and therefore cannot be mitigated even by pair-trading it against the equity that is not highly correlated to it. On the other hand, Reliq Health's unsystematic risk describes the types of risk that we can protect against, at least to some degree, by selecting a matching pair that is not perfectly correlated to Reliq Health Technologies.
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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