Correlation Between Bitget Token and Gnosis

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Can any of the company-specific risk be diversified away by investing in both Bitget Token and Gnosis 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 Bitget Token and Gnosis into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bitget token and Gnosis, you can compare the effects of market volatilities on Bitget Token and Gnosis 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 Bitget Token with a short position of Gnosis. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bitget Token and Gnosis.

Diversification Opportunities for Bitget Token and Gnosis

BitgetGnosisDiversified AwayBitgetGnosisDiversified Away100%
-0.31
  Correlation Coefficient

Very good diversification

The 3 months correlation between Bitget and Gnosis is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Bitget token and Gnosis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gnosis and Bitget Token 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 Bitget token are associated (or correlated) with Gnosis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gnosis has no effect on the direction of Bitget Token i.e., Bitget Token and Gnosis go up and down completely randomly.

Pair Corralation between Bitget Token and Gnosis

Assuming the 90 days trading horizon Bitget token is expected to under-perform the Gnosis. In addition to that, Bitget Token is 1.07 times more volatile than Gnosis. It trades about -0.47 of its total potential returns per unit of risk. Gnosis is currently generating about -0.26 per unit of volatility. If you would invest  20,770  in Gnosis on November 29, 2024 and sell it today you would lose (5,210) from holding Gnosis or give up 25.08% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Bitget token  vs.  Gnosis

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb 0100200300400
JavaScript chart by amCharts 3.21.15BGB GNO
       Timeline  
Bitget token 

Risk-Adjusted Performance

Solid

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Bitget token are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. In spite of rather unsteady fundamental drivers, Bitget Token exhibited solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15JanFebFeb2345678
Gnosis 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Gnosis has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Crypto's basic indicators remain rather sound which may send shares a bit higher in March 2025. The latest tumult may also be a sign of longer-term up-swing for Gnosis shareholders.
JavaScript chart by amCharts 3.21.15JanFebFeb160180200220240260280300

Bitget Token and Gnosis Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-26.31-19.71-13.1-6.5-0.117.0514.3421.6328.9236.21 0.0050.0100.015
JavaScript chart by amCharts 3.21.15BGB GNO
       Returns  

Pair Trading with Bitget Token and Gnosis

The main advantage of trading using opposite Bitget Token and Gnosis positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bitget Token position performs unexpectedly, Gnosis 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 Gnosis will offset losses from the drop in Gnosis' long position.
The idea behind Bitget token and Gnosis 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.
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.

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