Correlation Between Maverick Protocol and Big Time
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By analyzing existing cross correlation between Maverick Protocol and Big Time, you can compare the effects of market volatilities on Maverick Protocol and Big Time 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 Maverick Protocol with a short position of Big Time. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maverick Protocol and Big Time.
Diversification Opportunities for Maverick Protocol and Big Time
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Maverick and Big is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Maverick Protocol and Big Time in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Big Time and Maverick Protocol 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 Maverick Protocol are associated (or correlated) with Big Time. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Big Time has no effect on the direction of Maverick Protocol i.e., Maverick Protocol and Big Time go up and down completely randomly.
Pair Corralation between Maverick Protocol and Big Time
Assuming the 90 days trading horizon Maverick Protocol is expected to under-perform the Big Time. In addition to that, Maverick Protocol is 1.04 times more volatile than Big Time. It trades about -0.5 of its total potential returns per unit of risk. Big Time is currently generating about -0.47 per unit of volatility. If you would invest 13.00 in Big Time on November 8, 2024 and sell it today you would lose (7.13) from holding Big Time or give up 54.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Maverick Protocol vs. Big Time
Performance |
| Timeline |
| Maverick Protocol |
| Big Time |
Maverick Protocol and Big Time Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maverick Protocol and Big Time
The main advantage of trading using opposite Maverick Protocol and Big Time positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maverick Protocol position performs unexpectedly, Big Time 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 Big Time will offset losses from the drop in Big Time's long position.| Maverick Protocol vs. Staked Ether | Maverick Protocol vs. Phala Network | Maverick Protocol vs. EigenLayer | Maverick Protocol vs. EOSDAC |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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