Correlation Between Maverick Protocol and ITC
Can any of the company-specific risk be diversified away by investing in both Maverick Protocol and ITC 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 ITC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maverick Protocol and ITC, you can compare the effects of market volatilities on Maverick Protocol and ITC 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 ITC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maverick Protocol and ITC.
Diversification Opportunities for Maverick Protocol and ITC
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Maverick and ITC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Maverick Protocol and ITC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ITC 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 ITC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ITC has no effect on the direction of Maverick Protocol i.e., Maverick Protocol and ITC go up and down completely randomly.
Pair Corralation between Maverick Protocol and ITC
If you would invest 16.00 in Maverick Protocol on November 9, 2024 and sell it today you would lose (7.91) from holding Maverick Protocol or give up 49.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Maverick Protocol vs. ITC
Performance |
| Timeline |
| Maverick Protocol |
| ITC |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Maverick Protocol and ITC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maverick Protocol and ITC
The main advantage of trading using opposite Maverick Protocol and ITC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maverick Protocol position performs unexpectedly, ITC 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 ITC will offset losses from the drop in ITC'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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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