Correlation Between Binance Coin and Calamos Dividend
Can any of the company-specific risk be diversified away by investing in both Binance Coin and Calamos Dividend 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 Binance Coin and Calamos Dividend into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Binance Coin and Calamos Dividend Growth, you can compare the effects of market volatilities on Binance Coin and Calamos Dividend 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 Calamos Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of Binance Coin and Calamos Dividend.
Diversification Opportunities for Binance Coin and Calamos Dividend
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Binance and Calamos is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Binance Coin and Calamos Dividend Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Dividend Growth 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 Calamos Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Dividend Growth has no effect on the direction of Binance Coin i.e., Binance Coin and Calamos Dividend go up and down completely randomly.
Pair Corralation between Binance Coin and Calamos Dividend
Assuming the 90 days trading horizon Binance Coin is expected to generate 3.93 times more return on investment than Calamos Dividend. However, Binance Coin is 3.93 times more volatile than Calamos Dividend Growth. It trades about 0.05 of its potential returns per unit of risk. Calamos Dividend Growth is currently generating about 0.09 per unit of risk. If you would invest 60,233 in Binance Coin on October 18, 2024 and sell it today you would earn a total of 11,067 from holding Binance Coin or generate 18.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 68.95% |
| Values | Daily Returns |
Binance Coin vs. Calamos Dividend Growth
Performance |
| Timeline |
| Binance Coin |
| Calamos Dividend Growth |
Binance Coin and Calamos Dividend Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Binance Coin and Calamos Dividend
The main advantage of trading using opposite Binance Coin and Calamos Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Binance Coin position performs unexpectedly, Calamos Dividend 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 Calamos Dividend will offset losses from the drop in Calamos Dividend's long position.| Binance Coin vs. Staked Ether | Binance Coin vs. Cronos | Binance Coin vs. Wrapped Bitcoin | Binance Coin vs. Monero |
| Calamos Dividend vs. Catalystmillburn Hedge Strategy | Calamos Dividend vs. Franklin Emerging Market | Calamos Dividend vs. Eagle Mlp Strategy | Calamos Dividend vs. Nasdaq 100 2x Strategy |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |