Correlation Between Paysafe and KROGER
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By analyzing existing cross correlation between Paysafe and KROGER CO, you can compare the effects of market volatilities on Paysafe and KROGER 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 KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Paysafe and KROGER.
Diversification Opportunities for Paysafe and KROGER
Average diversification
The 3 months correlation between Paysafe and KROGER is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Paysafe and KROGER CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER CO 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 KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER CO has no effect on the direction of Paysafe i.e., Paysafe and KROGER go up and down completely randomly.
Pair Corralation between Paysafe and KROGER
Given the investment horizon of 90 days Paysafe is expected to generate 3.59 times more return on investment than KROGER. However, Paysafe is 3.59 times more volatile than KROGER CO. It trades about 0.05 of its potential returns per unit of risk. KROGER CO is currently generating about -0.02 per unit of risk. If you would invest 1,188 in Paysafe on September 4, 2024 and sell it today you would earn a total of 793.00 from holding Paysafe or generate 66.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 77.37% |
| Values | Daily Returns |
Paysafe vs. KROGER CO
Performance |
| Timeline |
| Paysafe |
| KROGER CO |
Paysafe and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Paysafe and KROGER
The main advantage of trading using opposite Paysafe and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Paysafe position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Paysafe vs. Skillz Platform | Paysafe vs. SoFi Technologies | Paysafe vs. Clover Health Investments | Paysafe vs. Opendoor Technologies |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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