Correlation Between Glimpse and Samsara
Can any of the company-specific risk be diversified away by investing in both Glimpse and Samsara 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 Glimpse and Samsara into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Glimpse Group and Samsara, you can compare the effects of market volatilities on Glimpse and Samsara 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 Glimpse with a short position of Samsara. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glimpse and Samsara.
Diversification Opportunities for Glimpse and Samsara
Pay attention - limited upside
The 3 months correlation between Glimpse and Samsara is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Glimpse Group and Samsara in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsara and Glimpse 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 Glimpse Group are associated (or correlated) with Samsara. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsara has no effect on the direction of Glimpse i.e., Glimpse and Samsara go up and down completely randomly.
Pair Corralation between Glimpse and Samsara
Given the investment horizon of 90 days Glimpse Group is expected to under-perform the Samsara. In addition to that, Glimpse is 2.27 times more volatile than Samsara. It trades about -0.02 of its total potential returns per unit of risk. Samsara is currently generating about 0.31 per unit of volatility. If you would invest 4,769 in Samsara on August 26, 2024 and sell it today you would earn a total of 866.00 from holding Samsara or generate 18.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Glimpse Group vs. Samsara
Performance |
| Timeline |
| Glimpse Group |
| Samsara |
Glimpse and Samsara Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Glimpse and Samsara
The main advantage of trading using opposite Glimpse and Samsara positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glimpse position performs unexpectedly, Samsara 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 Samsara will offset losses from the drop in Samsara's long position.| Glimpse vs. GigaCloud Technology Class | Glimpse vs. Arqit Quantum | Glimpse vs. Telos Corp | Glimpse vs. Cemtrex |
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 Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |