Correlation Between Binance Coin and Bosera CMSK
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By analyzing existing cross correlation between Binance Coin and Bosera CMSK Industrial, you can compare the effects of market volatilities on Binance Coin and Bosera CMSK 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 Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Binance Coin and Bosera CMSK.
Diversification Opportunities for Binance Coin and Bosera CMSK
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Binance and Bosera is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Binance Coin and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial 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 Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Binance Coin i.e., Binance Coin and Bosera CMSK go up and down completely randomly.
Pair Corralation between Binance Coin and Bosera CMSK
Assuming the 90 days trading horizon Binance Coin is expected to generate 1.31 times less return on investment than Bosera CMSK. In addition to that, Binance Coin is 2.46 times more volatile than Bosera CMSK Industrial. It trades about 0.05 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.15 per unit of volatility. If you would invest 139.00 in Bosera CMSK Industrial on October 18, 2024 and sell it today you would earn a total of 78.00 from holding Bosera CMSK Industrial or generate 56.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 71.85% |
| Values | Daily Returns |
Binance Coin vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Binance Coin |
| Bosera CMSK Industrial |
Binance Coin and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Binance Coin and Bosera CMSK
The main advantage of trading using opposite Binance Coin and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Binance Coin position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Binance Coin vs. Staked Ether | Binance Coin vs. Cronos | Binance Coin vs. Wrapped Bitcoin | Binance Coin vs. Monero |
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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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