Correlation Between Triplepoint Venture and BIT Mining
Can any of the company-specific risk be diversified away by investing in both Triplepoint Venture and BIT Mining 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 Triplepoint Venture and BIT Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Triplepoint Venture Growth and BIT Mining, you can compare the effects of market volatilities on Triplepoint Venture and BIT Mining 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 Triplepoint Venture with a short position of BIT Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Triplepoint Venture and BIT Mining.
Diversification Opportunities for Triplepoint Venture and BIT Mining
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Triplepoint and BIT is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Triplepoint Venture Growth and BIT Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIT Mining and Triplepoint Venture 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 Triplepoint Venture Growth are associated (or correlated) with BIT Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIT Mining has no effect on the direction of Triplepoint Venture i.e., Triplepoint Venture and BIT Mining go up and down completely randomly.
Pair Corralation between Triplepoint Venture and BIT Mining
Given the investment horizon of 90 days Triplepoint Venture Growth is expected to generate 0.33 times more return on investment than BIT Mining. However, Triplepoint Venture Growth is 3.05 times less risky than BIT Mining. It trades about 0.22 of its potential returns per unit of risk. BIT Mining is currently generating about -0.08 per unit of risk. If you would invest 766.00 in Triplepoint Venture Growth on November 4, 2024 and sell it today you would earn a total of 40.00 from holding Triplepoint Venture Growth or generate 5.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Triplepoint Venture Growth vs. BIT Mining
Performance |
| Timeline |
| Triplepoint Venture |
| BIT Mining |
Triplepoint Venture and BIT Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Triplepoint Venture and BIT Mining
The main advantage of trading using opposite Triplepoint Venture and BIT Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Triplepoint Venture position performs unexpectedly, BIT Mining 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 BIT Mining will offset losses from the drop in BIT Mining's long position.| Triplepoint Venture vs. BlackRock TCP Capital | Triplepoint Venture vs. Sixth Street Specialty | Triplepoint Venture vs. Golub Capital BDC | Triplepoint Venture vs. New Mountain Finance |
| BIT Mining vs. VNET Group DRC | BIT Mining vs. GDS Holdings | BIT Mining vs. CLARIVATE PLC | BIT Mining vs. CACI International |
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 CEOs Directory module to screen CEOs from public companies around the world.
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