Correlation Between Grayscale Bitcoin and EXELON
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By analyzing existing cross correlation between Grayscale Bitcoin Mini and EXELON P 495, you can compare the effects of market volatilities on Grayscale Bitcoin and EXELON 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 Grayscale Bitcoin with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grayscale Bitcoin and EXELON.
Diversification Opportunities for Grayscale Bitcoin and EXELON
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grayscale and EXELON is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Grayscale Bitcoin Mini and EXELON P 495 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON P 495 and Grayscale 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 Grayscale Bitcoin Mini are associated (or correlated) with EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON P 495 has no effect on the direction of Grayscale Bitcoin i.e., Grayscale Bitcoin and EXELON go up and down completely randomly.
Pair Corralation between Grayscale Bitcoin and EXELON
Considering the 90-day investment horizon Grayscale Bitcoin Mini is expected to generate 2.87 times more return on investment than EXELON. However, Grayscale Bitcoin is 2.87 times more volatile than EXELON P 495. It trades about 0.37 of its potential returns per unit of risk. EXELON P 495 is currently generating about 0.11 per unit of risk. If you would invest 3,085 in Grayscale Bitcoin Mini on August 28, 2024 and sell it today you would earn a total of 1,131 from holding Grayscale Bitcoin Mini or generate 36.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Grayscale Bitcoin Mini vs. EXELON P 495
Performance |
| Timeline |
| Grayscale Bitcoin Mini |
| EXELON P 495 |
Grayscale Bitcoin and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grayscale Bitcoin and EXELON
The main advantage of trading using opposite Grayscale Bitcoin and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grayscale Bitcoin position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Grayscale Bitcoin vs. ProShares Trust | Grayscale Bitcoin vs. iShares Ethereum Trust | Grayscale Bitcoin vs. ProShares Trust | Grayscale Bitcoin vs. Grayscale Ethereum Trust |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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