Correlation Between KuCoin Token and Status Network
Can any of the company-specific risk be diversified away by investing in both KuCoin Token and Status Network at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining KuCoin Token and Status Network into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KuCoin Token and Status Network Token, you can compare the effects of market volatilities on KuCoin Token and Status Network 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 KuCoin Token with a short position of Status Network. Check out your portfolio center. Please also check ongoing floating volatility patterns of KuCoin Token and Status Network.
Diversification Opportunities for KuCoin Token and Status Network
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between KuCoin and Status is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding KuCoin Token and Status Network Token in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Status Network Token and KuCoin Token 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 KuCoin Token are associated (or correlated) with Status Network. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Status Network Token has no effect on the direction of KuCoin Token i.e., KuCoin Token and Status Network go up and down completely randomly.
Pair Corralation between KuCoin Token and Status Network
Assuming the 90 days trading horizon KuCoin Token is expected to under-perform the Status Network. But the crypto coin apears to be less risky and, when comparing its historical volatility, KuCoin Token is 1.23 times less risky than Status Network. The crypto coin trades about -0.43 of its potential returns per unit of risk. The Status Network Token is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 4.51 in Status Network Token on January 20, 2024 and sell it today you would lose (0.71) from holding Status Network Token or give up 15.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KuCoin Token vs. Status Network Token
Performance |
| Timeline |
| KuCoin Token |
| Status Network Token |
KuCoin Token and Status Network Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KuCoin Token and Status Network
The main advantage of trading using opposite KuCoin Token and Status Network positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KuCoin Token position performs unexpectedly, Status Network 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 Status Network will offset losses from the drop in Status Network's long position.| KuCoin Token vs. Solana | KuCoin Token vs. XRP | KuCoin Token vs. The Open Network | KuCoin Token vs. Staked Ether |
| Status Network vs. Solana | Status Network vs. XRP | Status Network vs. The Open Network | Status Network vs. Staked Ether |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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