Correlation Between BTG Pactual and Hashdex Crypto
Can any of the company-specific risk be diversified away by investing in both BTG Pactual and Hashdex Crypto 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 BTG Pactual and Hashdex Crypto into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BTG Pactual Logstica and Hashdex Crypto Metaverse, you can compare the effects of market volatilities on BTG Pactual and Hashdex Crypto 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 BTG Pactual with a short position of Hashdex Crypto. Check out your portfolio center. Please also check ongoing floating volatility patterns of BTG Pactual and Hashdex Crypto.
Diversification Opportunities for BTG Pactual and Hashdex Crypto
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BTG and Hashdex is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding BTG Pactual Logstica and Hashdex Crypto Metaverse in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hashdex Crypto Metaverse and BTG Pactual 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 BTG Pactual Logstica are associated (or correlated) with Hashdex Crypto. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hashdex Crypto Metaverse has no effect on the direction of BTG Pactual i.e., BTG Pactual and Hashdex Crypto go up and down completely randomly.
Pair Corralation between BTG Pactual and Hashdex Crypto
Assuming the 90 days trading horizon BTG Pactual Logstica is expected to under-perform the Hashdex Crypto. But the fund apears to be less risky and, when comparing its historical volatility, BTG Pactual Logstica is 7.56 times less risky than Hashdex Crypto. The fund trades about -0.02 of its potential returns per unit of risk. The Hashdex Crypto Metaverse is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,760 in Hashdex Crypto Metaverse on August 29, 2024 and sell it today you would earn a total of 2,040 from holding Hashdex Crypto Metaverse or generate 73.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.43% |
| Values | Daily Returns |
BTG Pactual Logstica vs. Hashdex Crypto Metaverse
Performance |
| Timeline |
| BTG Pactual Logstica |
| Hashdex Crypto Metaverse |
BTG Pactual and Hashdex Crypto Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BTG Pactual and Hashdex Crypto
The main advantage of trading using opposite BTG Pactual and Hashdex Crypto positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BTG Pactual position performs unexpectedly, Hashdex Crypto 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 Hashdex Crypto will offset losses from the drop in Hashdex Crypto's long position.| BTG Pactual vs. BTG Pactual Teva | BTG Pactual vs. BTG PACTUAL CRDITO | BTG Pactual vs. Real Estate Investment | BTG Pactual vs. NAVI CRDITO IMOBILIRIO |
| Hashdex Crypto vs. Energisa SA | Hashdex Crypto vs. BTG Pactual Logstica | Hashdex Crypto vs. Plano Plano Desenvolvimento | Hashdex Crypto vs. Companhia Habitasul de |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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