This module allows you to analyze existing cross correlation between Citigroup and Apple. You can compare the effects of market volatilities on Citigroup and Apple 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 Citigroup with a short position of Apple. See also your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and Apple.
|Horizon||30 Days Login to change|
Over the last 30 days Citigroup has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest sluggish performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Even with considerably conflicting technical indicators, Apple may actually be approaching a critical reversion point that can send shares even higher in September 2019.
Citigroup and Apple Volatility Contrast
Predicted Return Density
Citigroup Inc vs. Apple Inc
Taking into account the 30 trading days horizon, Citigroup is expected to under-perform the Apple. In addition to that, Citigroup is 1.02 times more volatile than Apple. It trades about -0.08 of its total potential returns per unit of risk. Apple is currently generating about 0.06 per unit of volatility. If you would invest 19,845 in Apple on July 18, 2019 and sell it today you would earn a total of 785.00 from holding Apple or generate 3.96% return on investment over 30 days.
Pair Corralation between Citigroup and Apple
|Time Period||2 Months [change]|
Diversification Opportunities for Citigroup and Apple
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and Citigroup 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 Citigroup are associated (or correlated) with Apple. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apple has no effect on the direction of Citigroup i.e. Citigroup and Apple go up and down completely randomly.
See also your portfolio center. Please also try Idea Breakdown module to analyze constituents of all macroaxis ideas. macroaxis investment ideas are predefined, sector-focused investing themes.