Correlation Between Glimpse and MicroAlgo
Can any of the company-specific risk be diversified away by investing in both Glimpse and MicroAlgo 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 MicroAlgo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Glimpse Group and MicroAlgo, you can compare the effects of market volatilities on Glimpse and MicroAlgo 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 MicroAlgo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glimpse and MicroAlgo.
Diversification Opportunities for Glimpse and MicroAlgo
Excellent diversification
The 3 months correlation between Glimpse and MicroAlgo is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Glimpse Group and MicroAlgo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MicroAlgo 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 MicroAlgo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MicroAlgo has no effect on the direction of Glimpse i.e., Glimpse and MicroAlgo go up and down completely randomly.
Pair Corralation between Glimpse and MicroAlgo
Given the investment horizon of 90 days Glimpse Group is expected to generate 0.4 times more return on investment than MicroAlgo. However, Glimpse Group is 2.48 times less risky than MicroAlgo. It trades about 0.14 of its potential returns per unit of risk. MicroAlgo is currently generating about -0.29 per unit of risk. If you would invest 112.00 in Glimpse Group on April 28, 2025 and sell it today you would earn a total of 48.00 from holding Glimpse Group or generate 42.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Glimpse Group vs. MicroAlgo
Performance |
| Timeline |
| Glimpse Group |
| MicroAlgo |
Glimpse and MicroAlgo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Glimpse and MicroAlgo
The main advantage of trading using opposite Glimpse and MicroAlgo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glimpse position performs unexpectedly, MicroAlgo 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 MicroAlgo will offset losses from the drop in MicroAlgo's long position.| Glimpse vs. Katapult Holdings Equity | Glimpse vs. International Money Express | Glimpse vs. Bakkt Holdings | Glimpse vs. Kaltura |
| MicroAlgo vs. Evertec | MicroAlgo vs. FOXO Technologies | MicroAlgo vs. Golden Sun Education | MicroAlgo vs. Heart Test Laboratories |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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