Correlation Between Binance Coin and Easyhome New
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By analyzing existing cross correlation between Binance Coin and Easyhome New Retail, you can compare the effects of market volatilities on Binance Coin and Easyhome New 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 Binance Coin with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Binance Coin and Easyhome New.
Diversification Opportunities for Binance Coin and Easyhome New
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Binance and Easyhome is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Binance Coin and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Binance Coin 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 Binance Coin are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Binance Coin i.e., Binance Coin and Easyhome New go up and down completely randomly.
Pair Corralation between Binance Coin and Easyhome New
Assuming the 90 days trading horizon Binance Coin is expected to under-perform the Easyhome New. But the crypto coin apears to be less risky and, when comparing its historical volatility, Binance Coin is 3.08 times less risky than Easyhome New. The crypto coin trades about -0.17 of its potential returns per unit of risk. The Easyhome New Retail is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 357.00 in Easyhome New Retail on November 1, 2024 and sell it today you would lose (14.00) from holding Easyhome New Retail or give up 3.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Binance Coin vs. Easyhome New Retail
Performance |
| Timeline |
| Binance Coin |
| Easyhome New Retail |
Binance Coin and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Binance Coin and Easyhome New
The main advantage of trading using opposite Binance Coin and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Binance Coin position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Binance Coin vs. Staked Ether | Binance Coin vs. Cronos | Binance Coin vs. Wrapped Bitcoin | Binance Coin vs. Monero |
| Easyhome New vs. DO Home Collection | Easyhome New vs. Jiangsu Jinling Sports | Easyhome New vs. Hunan Mendale Hometextile | Easyhome New vs. Nanxing Furniture Machinery |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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