Correlation Analysis Between International Business and Citigroup

This module allows you to analyze existing cross correlation between International Business Machines Corporation and Citigroup. You can compare the effects of market volatilities on International Business 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 International Business with a short position of Citigroup. See also your portfolio center. Please also check ongoing floating volatility patterns of International Business and Citigroup.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

International Business  
00

Risk-Adjusted Performance

Over the last 30 days International Business Machines Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, International Business is not utilizing all of its potentials. The late 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.

International Business and Citigroup Volatility Contrast

 Predicted Return Density 
      Returns 

International Business Machine  vs.  Citigroup Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, International Business Machines Corporation is expected to generate 0.74 times more return on investment than Citigroup. However, International Business Machines Corporation is 1.35 times less risky than Citigroup. It trades about 0.0 of its potential returns per unit of risk. Citigroup is currently generating about -0.04 per unit of risk. If you would invest  13,944  in International Business Machines Corporation on May 26, 2019 and sell it today you would lose (9.00)  from holding International Business Machines Corporation or give up 0.06% of portfolio value over 30 days.

Pair Corralation between International Business and Citigroup

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for International Business and Citigroup

International Business Machine diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine and Citigroup Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Citigroup and International Business 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 International Business Machines Corporation 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 International Business i.e. International Business and Citigroup go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
Search macroaxis.com