Correlation Between Visa and B GRIMM
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By analyzing existing cross correlation between Visa Class A and B GRIMM POWER, you can compare the effects of market volatilities on Visa and B GRIMM 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 Visa with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and B GRIMM.
Diversification Opportunities for Visa and B GRIMM
Excellent diversification
The 3 months correlation between Visa and BGRIM-R is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A and B GRIMM POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B GRIMM POWER and Visa 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 Visa Class A are associated (or correlated) with B GRIMM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B GRIMM POWER has no effect on the direction of Visa i.e., Visa and B GRIMM go up and down completely randomly.
Pair Corralation between Visa and B GRIMM
Taking into account the 90-day investment horizon Visa Class A is expected to generate 0.3 times more return on investment than B GRIMM. However, Visa Class A is 3.39 times less risky than B GRIMM. It trades about 0.09 of its potential returns per unit of risk. B GRIMM POWER is currently generating about -0.04 per unit of risk. If you would invest 24,807 in Visa Class A on September 14, 2024 and sell it today you would earn a total of 6,667 from holding Visa Class A or generate 26.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.28% |
| Values | Daily Returns |
Visa Class A vs. B GRIMM POWER
Performance |
| Timeline |
| Visa Class A |
| B GRIMM POWER |
Visa and B GRIMM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Visa and B GRIMM
The main advantage of trading using opposite Visa and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa position performs unexpectedly, B GRIMM 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 B GRIMM will offset losses from the drop in B GRIMM's long position.| Visa vs. American Express | Visa vs. PayPal Holdings | Visa vs. Capital One Financial | Visa vs. Upstart Holdings |
| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT Public |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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