Correlation Between Maverick Protocol and FXP
Can any of the company-specific risk be diversified away by investing in both Maverick Protocol and FXP 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 Maverick Protocol and FXP into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maverick Protocol and FXP, you can compare the effects of market volatilities on Maverick Protocol and FXP 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 FXP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maverick Protocol and FXP.
Diversification Opportunities for Maverick Protocol and FXP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Maverick and FXP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Maverick Protocol and FXP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FXP 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 FXP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FXP has no effect on the direction of Maverick Protocol i.e., Maverick Protocol and FXP go up and down completely randomly.
Pair Corralation between Maverick Protocol and FXP
If you would invest 15.00 in Maverick Protocol on August 25, 2024 and sell it today you would earn a total of 5.00 from holding Maverick Protocol or generate 33.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Maverick Protocol vs. FXP
Performance |
| Timeline |
| Maverick Protocol |
| FXP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Maverick Protocol and FXP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maverick Protocol and FXP
The main advantage of trading using opposite Maverick Protocol and FXP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maverick Protocol position performs unexpectedly, FXP 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 FXP will offset losses from the drop in FXP's long position.| Maverick Protocol vs. Solana | Maverick Protocol vs. XRP | Maverick Protocol vs. Sui | Maverick Protocol vs. Staked Ether |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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