Correlation Between LongFin Corp and First BITCoin
Can any of the company-specific risk be diversified away by investing in both LongFin Corp and First BITCoin 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 LongFin Corp and First BITCoin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LongFin Corp and First BITCoin Capital, you can compare the effects of market volatilities on LongFin Corp and First BITCoin 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 LongFin Corp with a short position of First BITCoin. Check out your portfolio center. Please also check ongoing floating volatility patterns of LongFin Corp and First BITCoin.
Diversification Opportunities for LongFin Corp and First BITCoin
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between LongFin and First is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding LongFin Corp and First BITCoin Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First BITCoin Capital and LongFin Corp 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 LongFin Corp are associated (or correlated) with First BITCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First BITCoin Capital has no effect on the direction of LongFin Corp i.e., LongFin Corp and First BITCoin go up and down completely randomly.
Pair Corralation between LongFin Corp and First BITCoin
If you would invest 0.01 in First BITCoin Capital on September 2, 2024 and sell it today you would earn a total of 0.00 from holding First BITCoin Capital or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.27% |
| Values | Daily Returns |
LongFin Corp vs. First BITCoin Capital
Performance |
| Timeline |
| LongFin Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| First BITCoin Capital |
LongFin Corp and First BITCoin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LongFin Corp and First BITCoin
The main advantage of trading using opposite LongFin Corp and First BITCoin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LongFin Corp position performs unexpectedly, First BITCoin 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 First BITCoin will offset losses from the drop in First BITCoin's long position.| LongFin Corp vs. Ackroo Inc | LongFin Corp vs. CurrentC Power | LongFin Corp vs. Agent Information Software | LongFin Corp vs. Paycor HCM |
| First BITCoin vs. Woodbrook Group Holdings | First BITCoin vs. Cal Bay Intl | First BITCoin vs. LGBTQ Loyalty Holdings | First BITCoin vs. Sysorex |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Stocks Directory Find actively traded stocks across global markets | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |