Correlation Between Citigroup and ALROSA NYURBA

By analyzing existing cross correlation between Citigroup and ALROSA NYURBA PJSC, you can compare the effects of market volatilities on Citigroup and ALROSA NYURBA 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 ALROSA NYURBA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citigroup and ALROSA NYURBA.

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Can any of the company-specific risk be diversified away by investing in both Citigroup and ALROSA NYURBA 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 Citigroup and ALROSA NYURBA into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for Citigroup and ALROSA NYURBA

0.0
  Correlation Coefficient
Citigroup
ALROSA NYURBA PJSC

Pay attention - limited upside

The 3 months correlation between Citigroup and ALROSA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citigroup Inc and ALROSA NYURBA PJSC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ALROSA NYURBA PJSC 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 ALROSA NYURBA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALROSA NYURBA PJSC has no effect on the direction of Citigroup i.e. Citigroup and ALROSA NYURBA go up and down completely randomly.

Pair Corralation between Citigroup and ALROSA NYURBA

If you would invest  4,125  in Citigroup on June 6, 2020 and sell it today you would earn a total of  1,072  from holding Citigroup or generate 25.99% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Citigroup Inc  vs.  ALROSA NYURBA PJSC

 Performance (%) 
      Timeline 
Citigroup 
66

Citigroup Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Citigroup are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Citigroup sustained solid returns over the last few months and may actually be approaching a breakup point.
ALROSA NYURBA PJSC 
00

ALROSA NYURBA Risk-Adjusted Performance

Over the last 30 days ALROSA NYURBA PJSC has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, ALROSA NYURBA is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Citigroup and ALROSA NYURBA Volatility Contrast

Check out your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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