Correlation Between Maverick Protocol and JNT
Can any of the company-specific risk be diversified away by investing in both Maverick Protocol and JNT 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 JNT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maverick Protocol and JNT, you can compare the effects of market volatilities on Maverick Protocol and JNT 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 JNT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maverick Protocol and JNT.
Diversification Opportunities for Maverick Protocol and JNT
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Maverick and JNT is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Maverick Protocol and JNT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JNT 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 JNT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JNT has no effect on the direction of Maverick Protocol i.e., Maverick Protocol and JNT go up and down completely randomly.
Pair Corralation between Maverick Protocol and JNT
If you would invest 14.00 in Maverick Protocol on September 4, 2024 and sell it today you would earn a total of 16.00 from holding Maverick Protocol or generate 114.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Maverick Protocol vs. JNT
Performance |
| Timeline |
| Maverick Protocol |
| JNT |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Maverick Protocol and JNT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maverick Protocol and JNT
The main advantage of trading using opposite Maverick Protocol and JNT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maverick Protocol position performs unexpectedly, JNT 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 JNT will offset losses from the drop in JNT's long position.| Maverick Protocol vs. XRP | Maverick Protocol vs. Solana | Maverick Protocol vs. Staked Ether | Maverick Protocol vs. Toncoin |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |