Correlation Between Citizens Bancorp and DSP
Can any of the company-specific risk be diversified away by investing in both Citizens Bancorp and DSP 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 Citizens Bancorp and DSP into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citizens Bancorp Investment and DSP Group, you can compare the effects of market volatilities on Citizens Bancorp and DSP 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 Citizens Bancorp with a short position of DSP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens Bancorp and DSP.
Diversification Opportunities for Citizens Bancorp and DSP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citizens and DSP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citizens Bancorp Investment and DSP Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DSP Group and Citizens Bancorp 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 Citizens Bancorp Investment are associated (or correlated) with DSP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSP Group has no effect on the direction of Citizens Bancorp i.e., Citizens Bancorp and DSP go up and down completely randomly.
Pair Corralation between Citizens Bancorp and DSP
If you would invest (100.00) in DSP Group on January 30, 2024 and sell it today you would earn a total of 100.00 from holding DSP Group or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Citizens Bancorp Investment vs. DSP Group
Performance |
Timeline |
Citizens Bancorp Inv |
DSP Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citizens Bancorp and DSP Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Citizens Bancorp and DSP
The main advantage of trading using opposite Citizens Bancorp and DSP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens Bancorp position performs unexpectedly, DSP 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 DSP will offset losses from the drop in DSP's long position.Citizens Bancorp vs. Home Federal Bancorp | Citizens Bancorp vs. HMN Financial | Citizens Bancorp vs. Affinity Bancshares | Citizens Bancorp vs. Community West Bancshares |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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