Correlation Analysis Between BITCOIN SERVICES and NIKKEI 225

This module allows you to analyze existing cross correlation between BITCOIN SERVICES INC and NIKKEI 225. You can compare the effects of market volatilities on BITCOIN SERVICES and NIKKEI 225 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 BITCOIN SERVICES with a short position of NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of BITCOIN SERVICES and NIKKEI 225.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

BITCOIN SERVICES INC  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, BITCOIN SERVICES INC is expected to under-perform the NIKKEI 225. In addition to that, BITCOIN SERVICES is 10.66 times more volatile than NIKKEI 225. It trades about 0.0 of its total potential returns per unit of risk. NIKKEI 225 is currently generating about 0.06 per unit of volatility. If you would invest  2,133,387  in NIKKEI 225 on August 18, 2019 and sell it today you would earn a total of  65,442  from holding NIKKEI 225 or generate 3.07% return on investment over 30 days.

Pair Corralation between BITCOIN SERVICES and NIKKEI 225

0.77
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy96.83%
ValuesDaily Returns

Diversification Opportunities for BITCOIN SERVICES and NIKKEI 225

BITCOIN SERVICES INC diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding BITCOIN SERVICES INC and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 and BITCOIN SERVICES 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 BITCOIN SERVICES INC are associated (or correlated) with NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of BITCOIN SERVICES i.e. BITCOIN SERVICES and NIKKEI 225 go up and down completely randomly.
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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.


 
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