Correlation Between Glimpse and Paysign

Can any of the company-specific risk be diversified away by investing in both Glimpse and Paysign 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 Paysign into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Glimpse Group and Paysign, you can compare the effects of market volatilities on Glimpse and Paysign 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 Paysign. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glimpse and Paysign.

Diversification Opportunities for Glimpse and Paysign

0.68

Correlation Coefficient

Glimpse  Paysign

Poor diversification

The 3 months correlation between Glimpse and Paysign is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Glimpse Group and Paysign in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Paysign 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 Paysign. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Paysign has no effect on the direction of Glimpse i.e., Glimpse and Paysign go up and down completely randomly.

Pair Corralation between Glimpse and Paysign

Given the investment horizon of 90 days Glimpse Group is expected to under-perform the Paysign. In addition to that, Glimpse is 1.52 times more volatile than Paysign. It trades about -0.22 of its total potential returns per unit of risk. Paysign is currently generating about -0.13 per unit of volatility. If you would invest  332.00  in Paysign on December 26, 2024 and sell it today you would lose (105.00) from holding Paysign or give up 31.63% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Glimpse Group  vs.  Paysign

Glimpse Group

Risk-Adjusted Performance

Very Weak

Over the last 90 days Glimpse Group has generated negative risk-adjusted returns adding no value to investors with long positions. Even with abnormal performance in the last few months, the Stock's basic indicators remain relatively invariable which may send shares a bit higher in April 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Paysign

Risk-Adjusted Performance

Very Weak

Over the last 90 days Paysign has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in April 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Glimpse and Paysign

The main advantage of trading using opposite Glimpse and Paysign positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glimpse position performs unexpectedly, Paysign 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 Paysign will offset losses from the drop in Paysign's long position.

The idea behind Glimpse Group and Paysign pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 CEOs Directory module to screen CEOs from public companies around the world.