Correlation Between Uniswap Protocol and Big Time
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By analyzing existing cross correlation between Uniswap Protocol Token and Big Time, you can compare the effects of market volatilities on Uniswap Protocol and Big Time 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 Uniswap Protocol with a short position of Big Time. Check out your portfolio center. Please also check ongoing floating volatility patterns of Uniswap Protocol and Big Time.
Diversification Opportunities for Uniswap Protocol and Big Time
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Uniswap and Big is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Uniswap Protocol Token and Big Time in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Big Time and Uniswap 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 Uniswap Protocol Token are associated (or correlated) with Big Time. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Big Time has no effect on the direction of Uniswap Protocol i.e., Uniswap Protocol and Big Time go up and down completely randomly.
Pair Corralation between Uniswap Protocol and Big Time
Assuming the 90 days trading horizon Uniswap Protocol Token is expected to generate 0.73 times more return on investment than Big Time. However, Uniswap Protocol Token is 1.37 times less risky than Big Time. It trades about -0.3 of its potential returns per unit of risk. Big Time is currently generating about -0.35 per unit of risk. If you would invest 1,364 in Uniswap Protocol Token on November 11, 2024 and sell it today you would lose (450.00) from holding Uniswap Protocol Token or give up 32.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Uniswap Protocol Token vs. Big Time
Performance |
| Timeline |
| Uniswap Protocol Token |
| Big Time |
Uniswap Protocol and Big Time Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Uniswap Protocol and Big Time
The main advantage of trading using opposite Uniswap Protocol and Big Time positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Uniswap Protocol position performs unexpectedly, Big Time 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 Big Time will offset losses from the drop in Big Time's long position.| Uniswap Protocol vs. Staked Ether | Uniswap Protocol vs. Phala Network | Uniswap Protocol vs. EigenLayer | Uniswap 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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