Correlation Analysis Between Apple and Citigroup

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
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Comparative Performance

Apple  
00

Risk-Adjusted Performance

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.
Citigroup  
00

Risk-Adjusted Performance

Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Citigroup is not utilizing all of its potentials. The new stock price disturbance, may contribute to short term losses for the investors.

Apple and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

Apple Inc  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to under-perform the Citigroup. In addition to that, Apple is 1.11 times more volatile than Citigroup. It trades about -0.04 of its total potential returns per unit of risk. Citigroup is currently generating about -0.02 per unit of volatility. If you would invest  6,873  in Citigroup on May 16, 2019 and sell it today you would lose (125.00)  from holding Citigroup or give up 1.82% of portfolio value over 30 days.

Pair Corralation between Apple and Citigroup

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Apple and Citigroup

Apple Inc diversification synergy

Almost no diversification

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 Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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