Correlation Between Bit Origin and Whole Earth
Can any of the company-specific risk be diversified away by investing in both Bit Origin and Whole Earth 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 Bit Origin and Whole Earth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bit Origin and Whole Earth Brands, you can compare the effects of market volatilities on Bit Origin and Whole Earth 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 Bit Origin with a short position of Whole Earth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bit Origin and Whole Earth.
Diversification Opportunities for Bit Origin and Whole Earth
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bit and Whole is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bit Origin and Whole Earth Brands in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Whole Earth Brands and Bit Origin 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 Bit Origin are associated (or correlated) with Whole Earth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Whole Earth Brands has no effect on the direction of Bit Origin i.e., Bit Origin and Whole Earth go up and down completely randomly.
Pair Corralation between Bit Origin and Whole Earth
If you would invest (100.00) in Whole Earth Brands on December 2, 2024 and sell it today you would earn a total of 100.00 from holding Whole Earth Brands or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Bit Origin vs. Whole Earth Brands
Performance |
| Timeline |
| Bit Origin |
| Whole Earth Brands |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Bit Origin and Whole Earth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bit Origin and Whole Earth
The main advantage of trading using opposite Bit Origin and Whole Earth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bit Origin position performs unexpectedly, Whole Earth 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 Whole Earth will offset losses from the drop in Whole Earth's long position.| Bit Origin vs. Better Choice | ||
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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