Open Network Correlations

TONCOIN Crypto  USD 7.35  0.02  0.27%   
The current 90-days correlation between Open Network and Solana is 0.99 (i.e., No risk reduction). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Open Network moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if The Open Network moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Open Network Correlation With Market

Good diversification

The correlation between The Open Network and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Open Network and DJI in the same portfolio, assuming nothing else is changed. Please note that The Open Network is a digital instrument and cryptocurrency exchanges were notoriously volatile since the beginning of their establishment.
  
The ability to find closely correlated positions to Open Network could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Open Network when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Open Network - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling The Open Network to buy it.

Moving together with Open Crypto Coin

  0.97SOL SolanaPairCorr
  0.94STETH Staked EtherPairCorr
  0.9LINK ChainlinkPairCorr
  0.96TRX TRONPairCorr
  0.89AVAX AvalanchePairCorr
  0.96WBTC Wrapped BitcoinPairCorr
  0.76DOT PolkadotPairCorr
  0.9UNI Uniswap Protocol TokenPairCorr
  0.7OP OptimismPairCorr
  0.89NEAR NearPairCorr
  0.97LEO LEO TokenPairCorr
  0.82ICP Internet ComputerPairCorr
  0.95CBETH Coinbase Wrapped StakedPairCorr
  0.82HBAR Hedera HashgraphPairCorr
  0.9RNDR Render TokenPairCorr
  0.87CRO CronosPairCorr
  0.83IMX Immutable XPairCorr
  0.96MKR MakerPairCorr
  0.92STX StacksPairCorr
  0.82GRT GraphPairCorr
  0.94INJ InjectivePairCorr
  0.88FLR FlarePairCorr
  0.93MX MX TokenPairCorr
  0.78AAVE AavePairCorr
  0.87RUNE ThorchainPairCorr
  0.81FTM FantomPairCorr
  0.84THETA Theta NetworkPairCorr

Moving against Open Crypto Coin

  0.72ARB ArbitrumPairCorr
  0.57MATIC PolygonPairCorr
  0.4XRP XRPPairCorr
  0.98MANTLE MantlePairCorr
  0.84ATOM CosmosPairCorr
  0.97ARKM ArkhamPairCorr
  0.91QNT QuantPairCorr
  0.6DYDX dYdXPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
WBTCSTETH
STETHSOL
WBTCSOL
AVAXLINK
LINKSOL
LINKSTETH
  
High negative correlations   
TRXXRP
WBTCXRP
XRPSOL
STETHXRP
AVAXXRP
LINKXRP

Risk-Adjusted Indicators

There is a big difference between Open Crypto Coin performing well and Open Network Cryptocurrency doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Open Network's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SOL  17.87  9.62  2.12 (1.95) 2.43 
 9.87 
 595.38 
XRP  4.02  0.51  0.08  0.50  4.70 
 5.13 
 100.50 
STETH  3.64  1.47  0.54 (0.96) 1.62 
 4.51 
 107.95 
LINK  5.81  2.15  0.53 (1.23) 2.83 
 9.17 
 129.75 
TRX  2.00  1.12  0.62 (8.56) 0.00 
 7.69 
 31.11 
AVAX  6.64  2.59  0.57 (0.93) 3.26 
 8.06 
 194.65 
ONDO  3.68 (0.48) 0.00  0.64  0.00 
 6.03 
 23.33 
WBTC  4.39  2.03  1.05 (1.20) 0.58 
 4.15 
 137.79 
DOT  3.51  0.73  0.17 (0.41) 3.41 
 7.77 
 49.18 
UNI  5.52  1.48  0.26 (0.93) 4.67 
 11.39 
 107.68 

Be your own crypto manager

Our tools can tell you how much better you can do entering a position in Open Network without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.

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How to invest in The Open Network

You need to understand the risk of getting into digital currencies such as TONCOIN before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in Open Network in four ways:

Buy TONCOIN through an exchange

Get yourself a crypto wallet before embarking on your The Open Network journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase The Open Network. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.

Purchase fractions of Open Network through an exchange

You don't have to buy a full token when starting out since TONCOIN is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.

Trade The Open Network through a broker

If you don't want to store your Open Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.

Invest in TONCOIN through an exchange-traded fund (ETF)

You can also invest in TONCOIN through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.

Investing Ideas

In addition to having Open Network in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
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