Correlation Between Polygon Ecosystem and ANT
Can any of the company-specific risk be diversified away by investing in both Polygon Ecosystem and ANT 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 Polygon Ecosystem and ANT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Polygon Ecosystem Token and ANT, you can compare the effects of market volatilities on Polygon Ecosystem and ANT 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 Polygon Ecosystem with a short position of ANT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Polygon Ecosystem and ANT.
Diversification Opportunities for Polygon Ecosystem and ANT
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Polygon and ANT is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Polygon Ecosystem Token and ANT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ANT and Polygon Ecosystem 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 Polygon Ecosystem Token are associated (or correlated) with ANT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ANT has no effect on the direction of Polygon Ecosystem i.e., Polygon Ecosystem and ANT go up and down completely randomly.
Pair Corralation between Polygon Ecosystem and ANT
Assuming the 90 days trading horizon Polygon Ecosystem Token is expected to under-perform the ANT. But the crypto coin apears to be less risky and, when comparing its historical volatility, Polygon Ecosystem Token is 2.56 times less risky than ANT. The crypto coin trades about -0.12 of its potential returns per unit of risk. The ANT is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 145.00 in ANT on October 10, 2024 and sell it today you would earn a total of 2.00 from holding ANT or generate 1.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Polygon Ecosystem Token vs. ANT
Performance |
| Timeline |
| Polygon Ecosystem Token |
| ANT |
Polygon Ecosystem and ANT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Polygon Ecosystem and ANT
The main advantage of trading using opposite Polygon Ecosystem and ANT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Polygon Ecosystem position performs unexpectedly, ANT 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 ANT will offset losses from the drop in ANT's long position.| Polygon Ecosystem vs. Fwog | Polygon Ecosystem vs. Staked Ether | Polygon Ecosystem vs. Phala Network | Polygon Ecosystem vs. EigenLayer |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |