Correlation Between BitFrontier Capital and EBullion
Can any of the company-specific risk be diversified away by investing in both BitFrontier Capital and EBullion 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 BitFrontier Capital and EBullion into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BitFrontier Capital Holdings and EBullion, you can compare the effects of market volatilities on BitFrontier Capital and EBullion 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 BitFrontier Capital with a short position of EBullion. Check out your portfolio center. Please also check ongoing floating volatility patterns of BitFrontier Capital and EBullion.
Diversification Opportunities for BitFrontier Capital and EBullion
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BitFrontier and EBullion is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding BitFrontier Capital Holdings and EBullion in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EBullion and BitFrontier Capital 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 BitFrontier Capital Holdings are associated (or correlated) with EBullion. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EBullion has no effect on the direction of BitFrontier Capital i.e., BitFrontier Capital and EBullion go up and down completely randomly.
Pair Corralation between BitFrontier Capital and EBullion
If you would invest 0.20 in BitFrontier Capital Holdings on October 22, 2024 and sell it today you would lose (0.01) from holding BitFrontier Capital Holdings or give up 5.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 5.56% |
| Values | Daily Returns |
BitFrontier Capital Holdings vs. EBullion
Performance |
| Timeline |
| BitFrontier Capital |
| EBullion |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
BitFrontier Capital and EBullion Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BitFrontier Capital and EBullion
The main advantage of trading using opposite BitFrontier Capital and EBullion positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BitFrontier Capital position performs unexpectedly, EBullion 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 EBullion will offset losses from the drop in EBullion's long position.| BitFrontier Capital vs. XTRA Bitcoin | BitFrontier Capital vs. Coin Citadel | BitFrontier Capital vs. Dmg Blockchain Solutions | BitFrontier Capital vs. Argo Blockchain PLC |
| EBullion vs. SPENN Technology AS | EBullion vs. Arcane Crypto AB | EBullion vs. OFX Group Ltd | EBullion vs. Blockmate Ventures |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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