Correlation Between Katapult Holdings and Payoneer Global
Can any of the company-specific risk be diversified away by investing in both Katapult Holdings and Payoneer Global 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 Katapult Holdings and Payoneer Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Katapult Holdings Equity and Payoneer Global Warrant, you can compare the effects of market volatilities on Katapult Holdings and Payoneer Global 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 Katapult Holdings with a short position of Payoneer Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Katapult Holdings and Payoneer Global.
Diversification Opportunities for Katapult Holdings and Payoneer Global
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Katapult and Payoneer is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Katapult Holdings Equity and Payoneer Global Warrant in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Payoneer Global Warrant and Katapult Holdings 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 Katapult Holdings Equity are associated (or correlated) with Payoneer Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Payoneer Global Warrant has no effect on the direction of Katapult Holdings i.e., Katapult Holdings and Payoneer Global go up and down completely randomly.
Pair Corralation between Katapult Holdings and Payoneer Global
If you would invest 73.00 in Payoneer Global Warrant on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Payoneer Global Warrant or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Katapult Holdings Equity vs. Payoneer Global Warrant
Performance |
| Timeline |
| Katapult Holdings Equity |
| Payoneer Global Warrant |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Katapult Holdings and Payoneer Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Katapult Holdings and Payoneer Global
The main advantage of trading using opposite Katapult Holdings and Payoneer Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Katapult Holdings position performs unexpectedly, Payoneer Global 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 Payoneer Global will offset losses from the drop in Payoneer Global's long position.| Katapult Holdings vs. AvePoint | Katapult Holdings vs. Katapult Holdings | Katapult Holdings vs. WM Technology |
| Payoneer Global vs. Payoneer Global | Payoneer Global vs. Katapult Holdings Equity | Payoneer Global vs. Origin Materials Warrant | Payoneer Global vs. AvePoint |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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