This module allows you to analyze existing cross correlation between BTCS INC and NZSE. You can compare the effects of market volatilities on BTCS INC and NZSE 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 NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of BTCS INC and NZSE.
|Horizon||30 Days Login to change|
Predicted Return Density
BTCS INC vs. NZSE
Given the investment horizon of 30 days, BTCS INC is expected to under-perform the NZSE. In addition to that, BTCS INC is 14.35 times more volatile than NZSE. It trades about -0.05 of its total potential returns per unit of risk. NZSE is currently generating about 0.1 per unit of volatility. If you would invest 1,032,729 in NZSE on August 20, 2019 and sell it today you would earn a total of 47,376 from holding NZSE or generate 4.59% return on investment over 30 days.
Pair Corralation between BTCS INC and NZSE
|Time Period||3 Months [change]|
Diversification Opportunities for BTCS INC and NZSE
Overlapping area represents the amount of risk that can be diversified away by holding BTCS INC and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE 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 NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of BTCS INC i.e. BTCS INC and NZSE go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.