NLG Correlations

NLG Crypto

USD 0.01 0.000021 0.41%

The current 90-days correlation between NLG and Bitcoin is -0.23 (i.e., Very good diversification). The correlation of NLG is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

NLG Correlation With Market

Good diversification

The correlation between NLG and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NLG and DJI in the same portfolio, assuming nothing else is changed. Please note that NLG is a digital instrument and cryptocurrency exchanges were notoriously volatile since the beginning of their establishment.

The ability to find closely correlated positions to NLG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NLG when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NLG - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NLG to buy it.

Moving together with NLG Crypto Coin

1.0	PURA	PURA	Pair Corr
1.0	SAFEX	SAFEX	Pair Corr
1.0	SIB	SIB	Pair Corr

Moving against NLG Crypto Coin

0.46	AR	Arweave	Pair Corr
0.44	CFX	Conflux Network	Pair Corr
0.42	CKB	Nervos Network	Pair Corr
0.4	SOLVE	SOLVE	Pair Corr
0.33	RCN	RCN	Pair Corr

Related Correlations Analysis

	BTC	DOGE	BCH	LTC	ETC	BSV	AR	CFX	ZEC	BTG
BTC		0.97	0.97	0.93	0.91	0.94	-0.32	0.22	0.8	0.93	BTC
DOGE	0.97		0.94	0.91	0.9	0.94	-0.29	0.12	0.72	0.93	DOGE
BCH	0.97	0.94		0.95	0.95	0.95	-0.19	0.27	0.81	0.94	BCH
LTC	0.93	0.91	0.95		0.94	0.93	-0.2	0.27	0.75	0.93	LTC
ETC	0.91	0.9	0.95	0.94		0.93	0.0	0.29	0.7	0.96	ETC
BSV	0.94	0.94	0.95	0.93	0.93		-0.2	0.2	0.67	0.96	BSV
AR	-0.32	-0.29	-0.19	-0.2	0.0	-0.2		0.12	-0.27	-0.07	AR
CFX	0.22	0.12	0.27	0.27	0.29	0.2	0.12		0.11	0.26	CFX
ZEC	0.8	0.72	0.81	0.75	0.7	0.67	-0.27	0.11		0.66	ZEC
BTG	0.93	0.93	0.94	0.93	0.96	0.96	-0.07	0.26	0.66		BTG
	BTC	DOGE	BCH	LTC	ETC	BSV	AR	CFX	ZEC	BTG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DOGE	+ 0.97	BTC
BCH	+ 0.97	BTC
BTG	+ 0.96	ETC
BTG	+ 0.96	BSV
LTC	+ 0.95	BCH
ETC	+ 0.95	BCH

High negative correlations

AR	- 0.32	BTC
AR	- 0.29	DOGE
ZEC	- 0.27	AR
AR	- 0.2	BSV
AR	- 0.2	LTC
AR	- 0.19	BCH

Risk-Adjusted Indicators

There is a big difference between NLG Crypto Coin performing well and NLG Cryptocurrency doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze NLG's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BTC	2.17	0.63	0.21	1.63	2.02	(2.46)	6.41	(3.50)	18.26
DOGE	6.11	2.40	0.29	2.09	4.14	(9.75)	10.00	(9.09)	82.73
BCH	3.14	0.56	0.13	2.07	3.52	(3.64)	10.06	(5.14)	19.85
LTC	2.90	0.60	0.14	0.96	3.68	(3.11)	8.10	(6.54)	23.16
ETC	2.82	0.58	0.13	1.76	3.17	(3.18)	6.70	(4.27)	19.28
BSV	3.20	0.65	0.14	1.75	3.75	(3.70)	10.18	(4.22)	28.37
AR	4.20	(0.41)	0.00	(0.06)	0.00	0.00	10.89	(7.86)	23.90
CFX	4.35	0.32	0.03	1.44	4.62	(8.34)	12.50	(7.69)	25.83
ZEC	4.56	0.36	0.05	8.60	5.09	(5.37)	11.43	(8.59)	24.76
BTG	3.55	0.56	0.11	1.92	4.07	(4.15)	9.54	(7.21)	24.16

NLG Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with NLG crypto coin to make a market-neutral strategy. Peer analysis of NLG could also be used in its relative valuation, which is a method of valuing NLG by comparing valuation metrics with similar companies.

Bitcoin Dogecoin Bitcoin Cash Litecoin Ethereum Classic Bitcoin SV Arweave Conflux Network ZCash Bitcoin Gold Nervos Network American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

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