Correlation Between Paysafe and Kulicke
Can any of the company-specific risk be diversified away by investing in both Paysafe and Kulicke 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 Paysafe and Kulicke into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Paysafe and Kulicke and Soffa, you can compare the effects of market volatilities on Paysafe and Kulicke 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 Paysafe with a short position of Kulicke. Check out your portfolio center. Please also check ongoing floating volatility patterns of Paysafe and Kulicke.
Diversification Opportunities for Paysafe and Kulicke
Good diversification
The 3 months correlation between Paysafe and Kulicke is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Paysafe and Kulicke and Soffa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kulicke and Soffa and Paysafe 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 Paysafe are associated (or correlated) with Kulicke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kulicke and Soffa has no effect on the direction of Paysafe i.e., Paysafe and Kulicke go up and down completely randomly.
Pair Corralation between Paysafe and Kulicke
Given the investment horizon of 90 days Paysafe is expected to under-perform the Kulicke. In addition to that, Paysafe is 2.84 times more volatile than Kulicke and Soffa. It trades about -0.13 of its total potential returns per unit of risk. Kulicke and Soffa is currently generating about 0.15 per unit of volatility. If you would invest 4,613 in Kulicke and Soffa on August 27, 2024 and sell it today you would earn a total of 304.00 from holding Kulicke and Soffa or generate 6.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Paysafe vs. Kulicke and Soffa
Performance |
| Timeline |
| Paysafe |
| Kulicke and Soffa |
Paysafe and Kulicke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Paysafe and Kulicke
The main advantage of trading using opposite Paysafe and Kulicke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Paysafe position performs unexpectedly, Kulicke 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 Kulicke will offset losses from the drop in Kulicke's long position.| Paysafe vs. Skillz Platform | Paysafe vs. SoFi Technologies | Paysafe vs. Clover Health Investments | Paysafe vs. Opendoor Technologies |
| Kulicke vs. Ultra Clean Holdings | Kulicke vs. Ichor Holdings | Kulicke vs. Entegris | Kulicke vs. Amtech Systems |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |