Correlation Between Papaya Growth and GENERAL
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By analyzing existing cross correlation between Papaya Growth Opportunity and GENERAL ELEC CAP, you can compare the effects of market volatilities on Papaya Growth and GENERAL 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 Papaya Growth with a short position of GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Papaya Growth and GENERAL.
Diversification Opportunities for Papaya Growth and GENERAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Papaya and GENERAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Papaya Growth Opportunity and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP and Papaya Growth 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 Papaya Growth Opportunity are associated (or correlated) with GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of Papaya Growth i.e., Papaya Growth and GENERAL go up and down completely randomly.
Pair Corralation between Papaya Growth and GENERAL
If you would invest 1,115 in Papaya Growth Opportunity on September 3, 2024 and sell it today you would earn a total of 4.00 from holding Papaya Growth Opportunity or generate 0.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.8% |
| Values | Daily Returns |
Papaya Growth Opportunity vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Papaya Growth Opportunity |
| GENERAL ELEC CAP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Papaya Growth and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Papaya Growth and GENERAL
The main advantage of trading using opposite Papaya Growth and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Papaya Growth position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL's long position.| Papaya Growth vs. Alpha One | Papaya Growth vs. Manaris Corp | Papaya Growth vs. SCOR PK | Papaya Growth vs. Aquagold International |
| GENERAL vs. NETGEAR | GENERAL vs. Ultra Clean Holdings | GENERAL vs. PepsiCo | GENERAL vs. China Clean Energy |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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