Correlation Between Paysafe and GENERAL
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By analyzing existing cross correlation between Paysafe and GENERAL ELEC CAP, you can compare the effects of market volatilities on Paysafe 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 Paysafe with a short position of GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Paysafe and GENERAL.
Diversification Opportunities for Paysafe and GENERAL
Significant diversification
The 3 months correlation between Paysafe and GENERAL is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Paysafe 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 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 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 Paysafe i.e., Paysafe and GENERAL go up and down completely randomly.
Pair Corralation between Paysafe and GENERAL
Given the investment horizon of 90 days Paysafe is expected to under-perform the GENERAL. In addition to that, Paysafe is 2.79 times more volatile than GENERAL ELEC CAP. It trades about -0.18 of its total potential returns per unit of risk. GENERAL ELEC CAP is currently generating about -0.19 per unit of volatility. If you would invest 9,357 in GENERAL ELEC CAP on September 13, 2024 and sell it today you would lose (482.00) from holding GENERAL ELEC CAP or give up 5.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 54.55% |
| Values | Daily Returns |
Paysafe vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Paysafe |
| GENERAL ELEC CAP |
Paysafe and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Paysafe and GENERAL
The main advantage of trading using opposite Paysafe and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Paysafe 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.| Paysafe vs. Skillz Platform | Paysafe vs. SoFi Technologies | Paysafe vs. Clover Health Investments | Paysafe vs. Opendoor Technologies |
| GENERAL vs. Monster Beverage Corp | GENERAL vs. Park Electrochemical | GENERAL vs. China Tontine Wines | GENERAL vs. Luxfer Holdings PLC |
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 Stocks Directory module to find actively traded stocks across global markets.
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