Correlation Between Binance Coin and Standard Bank
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By analyzing existing cross correlation between Binance Coin and Standard Bank WTI, you can compare the effects of market volatilities on Binance Coin and Standard Bank 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 Standard Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Binance Coin and Standard Bank.
Diversification Opportunities for Binance Coin and Standard Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Binance and Standard is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Binance Coin and Standard Bank WTI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Standard Bank WTI 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 Standard Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Standard Bank WTI has no effect on the direction of Binance Coin i.e., Binance Coin and Standard Bank go up and down completely randomly.
Pair Corralation between Binance Coin and Standard Bank
If you would invest 66,306 in Binance Coin on October 21, 2024 and sell it today you would earn a total of 5,763 from holding Binance Coin or generate 8.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 85.71% |
| Values | Daily Returns |
Binance Coin vs. Standard Bank WTI
Performance |
| Timeline |
| Binance Coin |
| Standard Bank WTI |
Binance Coin and Standard Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Binance Coin and Standard Bank
The main advantage of trading using opposite Binance Coin and Standard Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Binance Coin position performs unexpectedly, Standard Bank 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 Standard Bank will offset losses from the drop in Standard Bank's long position.| Binance Coin vs. Staked Ether | Binance Coin vs. Cronos | Binance Coin vs. Wrapped Bitcoin | Binance Coin vs. Monero |
| Standard Bank vs. Standard Bank Oil | Standard Bank vs. FNB ETN on | Standard Bank vs. Satrix MSCI World | Standard Bank vs. GSETNC |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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