Correlation Between Bitcoin and CONSOLIDATED HALLMARK
Specify exactly 2 symbols:
By analyzing existing cross correlation between Bitcoin and CONSOLIDATED HALLMARK INSURANCE, you can compare the effects of market volatilities on Bitcoin and CONSOLIDATED HALLMARK 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 Bitcoin with a short position of CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bitcoin and CONSOLIDATED HALLMARK.
Diversification Opportunities for Bitcoin and CONSOLIDATED HALLMARK
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bitcoin and CONSOLIDATED is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Bitcoin and CONSOLIDATED HALLMARK INSURANC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK and Bitcoin 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 Bitcoin are associated (or correlated) with CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of Bitcoin i.e., Bitcoin and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between Bitcoin and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon Bitcoin is expected to generate 3.55 times less return on investment than CONSOLIDATED HALLMARK. But when comparing it to its historical volatility, Bitcoin is 3.16 times less risky than CONSOLIDATED HALLMARK. It trades about 0.08 of its potential returns per unit of risk. CONSOLIDATED HALLMARK INSURANCE is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 50.00 in CONSOLIDATED HALLMARK INSURANCE on January 3, 2025 and sell it today you would earn a total of 273.00 from holding CONSOLIDATED HALLMARK INSURANCE or generate 546.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 65.23% |
| Values | Daily Returns |
Bitcoin vs. CONSOLIDATED HALLMARK INSURANC
Performance |
| Timeline |
| Bitcoin |
| CONSOLIDATED HALLMARK |
Bitcoin and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bitcoin and CONSOLIDATED HALLMARK
The main advantage of trading using opposite Bitcoin and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bitcoin position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK's long position.The idea behind Bitcoin and CONSOLIDATED HALLMARK INSURANCE pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| CONSOLIDATED HALLMARK vs. ABBEY MORTGAGE BANK | CONSOLIDATED HALLMARK vs. ASO SAVINGS AND | CONSOLIDATED HALLMARK vs. NEM INSURANCE PLC | CONSOLIDATED HALLMARK vs. STANDARD ALLIANCE INSURANCE |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |