This module allows you to analyze existing cross correlation between Apple and Citigroup. You can compare the effects of market volatilities on Apple and Citigroup 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 Apple with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of Apple and Citigroup.
|Horizon||30 Days Login to change|
Over the last 30 days Apple has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Apple is not utilizing all of its potentials. The existing stock price chaos, may contribute to medium term losses for the stakeholders.
Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite sluggish performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the company investors.
Apple and Citigroup Volatility Contrast
Predicted Return Density
Apple Inc vs. Citigroup Inc
Given the investment horizon of 30 days, Apple is expected to generate 1.11 times more return on investment than Citigroup. However, Apple is 1.11 times more volatile than Citigroup. It trades about -0.03 of its potential returns per unit of risk. Citigroup is currently generating about -0.13 per unit of risk. If you would invest 19,980 in Apple on July 26, 2019 and sell it today you would lose (698.00) from holding Apple or give up 3.49% of portfolio value over 30 days.
Pair Corralation between Apple and Citigroup
|Time Period||2 Months [change]|
Diversification Opportunities for Apple and Citigroup
Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and Apple 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 Apple are associated (or correlated) with Citigroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citigroup has no effect on the direction of Apple i.e. Apple and Citigroup go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.