Correlation Between Binance Coin and Lecron Energy
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By analyzing existing cross correlation between Binance Coin and Lecron Energy Saving, you can compare the effects of market volatilities on Binance Coin and Lecron Energy 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 Lecron Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Binance Coin and Lecron Energy.
Diversification Opportunities for Binance Coin and Lecron Energy
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Binance and Lecron is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Binance Coin and Lecron Energy Saving in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lecron Energy Saving 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 Lecron Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lecron Energy Saving has no effect on the direction of Binance Coin i.e., Binance Coin and Lecron Energy go up and down completely randomly.
Pair Corralation between Binance Coin and Lecron Energy
Assuming the 90 days trading horizon Binance Coin is expected to generate 0.89 times more return on investment than Lecron Energy. However, Binance Coin is 1.13 times less risky than Lecron Energy. It trades about -0.04 of its potential returns per unit of risk. Lecron Energy Saving is currently generating about -0.44 per unit of risk. If you would invest 70,610 in Binance Coin on October 12, 2024 and sell it today you would lose (1,840) from holding Binance Coin or give up 2.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Binance Coin vs. Lecron Energy Saving
Performance |
| Timeline |
| Binance Coin |
| Lecron Energy Saving |
Binance Coin and Lecron Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Binance Coin and Lecron Energy
The main advantage of trading using opposite Binance Coin and Lecron Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Binance Coin position performs unexpectedly, Lecron Energy 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 Lecron Energy will offset losses from the drop in Lecron Energy's long position.| Binance Coin vs. Staked Ether | Binance Coin vs. Cronos | Binance Coin vs. Wrapped Bitcoin | Binance Coin vs. Monero |
| Lecron Energy vs. Hunan Investment Group | Lecron Energy vs. Zhongrun Resources Investment | Lecron Energy vs. Beijing Mainstreets Investment | Lecron Energy vs. Allwin Telecommunication Co |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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