Correlation Analysis Between BTCS INC and NASDAQ UK

This module allows you to analyze existing cross correlation between BTCS INC and NASDAQ UK. You can compare the effects of market volatilities on BTCS INC and NASDAQ UK 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 BTCS INC with a short position of NASDAQ UK. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCS INC and NASDAQ UK.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

BTCS INC  vs.  NASDAQ UK

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, BTCS INC is expected to under-perform the NASDAQ UK. In addition to that, BTCS INC is 10.78 times more volatile than NASDAQ UK. It trades about -0.06 of its total potential returns per unit of risk. NASDAQ UK is currently generating about 0.19 per unit of volatility. If you would invest  96,412  in NASDAQ UK on August 17, 2019 and sell it today you would earn a total of  1,442  from holding NASDAQ UK or generate 1.5% return on investment over 30 days.

Pair Corralation between BTCS INC and NASDAQ UK

-0.38
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy12.5%
ValuesDaily Returns

Diversification Opportunities for BTCS INC and NASDAQ UK

BTCS INC diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding BTCS INC and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK and BTCS INC 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 BTCS INC are associated (or correlated) with NASDAQ UK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NASDAQ UK has no effect on the direction of BTCS INC i.e. BTCS INC and NASDAQ UK go up and down completely randomly.
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See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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