Correlation Between KuCoin Token and YOU
Can any of the company-specific risk be diversified away by investing in both KuCoin Token and YOU 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 YOU into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KuCoin Token and YOU, you can compare the effects of market volatilities on KuCoin Token and YOU 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 YOU. Check out your portfolio center. Please also check ongoing floating volatility patterns of KuCoin Token and YOU.
Diversification Opportunities for KuCoin Token and YOU
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between KuCoin and YOU is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding KuCoin Token and YOU in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YOU 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 YOU. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YOU has no effect on the direction of KuCoin Token i.e., KuCoin Token and YOU go up and down completely randomly.
Pair Corralation between KuCoin Token and YOU
Assuming the 90 days trading horizon KuCoin Token is expected to under-perform the YOU. In addition to that, KuCoin Token is 1.11 times more volatile than YOU. It trades about -0.09 of its total potential returns per unit of risk. YOU is currently generating about 0.1 per unit of volatility. If you would invest 0.02 in YOU on January 26, 2024 and sell it today you would earn a total of 0.00 from holding YOU or generate 8.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
KuCoin Token vs. YOU
Performance |
| Timeline |
| KuCoin Token |
| YOU |
KuCoin Token and YOU Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KuCoin Token and YOU
The main advantage of trading using opposite KuCoin Token and YOU positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KuCoin Token position performs unexpectedly, YOU 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 YOU will offset losses from the drop in YOU's long position.| KuCoin Token vs. Solana | KuCoin Token vs. XRP | KuCoin Token vs. Staked Ether | KuCoin Token vs. The Open Network |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |