Correlation Between Bitwise Core and Prosiebensat

Can any of the company-specific risk be diversified away by investing in both Bitwise Core and Prosiebensat 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 Bitwise Core and Prosiebensat into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Bitwise Core Bitcoin and Prosiebensat 1 Media, you can compare the effects of market volatilities on Bitwise Core and Prosiebensat 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 Bitwise Core with a short position of Prosiebensat. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bitwise Core and Prosiebensat.

Diversification Opportunities for Bitwise Core and Prosiebensat

0.06

Correlation Coefficient

Bitwise Core  Prosiebensat

Significant diversification

The 3 months correlation between Bitwise and Prosiebensat is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Bitwise Core Bitcoin and Prosiebensat 1 Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Prosiebensat 1 Media and Bitwise Core 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 Bitwise Core Bitcoin are associated (or correlated) with Prosiebensat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Prosiebensat 1 Media has no effect on the direction of Bitwise Core i.e., Bitwise Core and Prosiebensat go up and down completely randomly.

Pair Corralation between Bitwise Core and Prosiebensat

Assuming the 90 days trading horizon Bitwise Core Bitcoin is expected to generate 0.72 times more return on investment than Prosiebensat. However, Bitwise Core Bitcoin is 1.38 times less risky than Prosiebensat. It trades about 0.1 of its potential returns per unit of risk. Prosiebensat 1 Media is currently generating about -0.12 per unit of risk. If you would invest  922.00  in Bitwise Core Bitcoin on July 8, 2025 and sell it today you would earn a total of  112.00  from holding Bitwise Core Bitcoin or generate 12.15% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Bitwise Core Bitcoin  vs.  Prosiebensat 1 Media

Bitwise Core Bitcoin

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Bitwise Core Bitcoin are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of rather unsteady basic indicators, Bitwise Core may actually be approaching a critical reversion point that can send shares even higher in November 2025.

Prosiebensat 1 Media

Risk-Adjusted Performance

Weakest

Over the last 90 days Prosiebensat 1 Media has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unfluctuating performance in the last few months, the Stock's primary indicators remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Bitwise Core and Prosiebensat

The main advantage of trading using opposite Bitwise Core and Prosiebensat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bitwise Core position performs unexpectedly, Prosiebensat 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 Prosiebensat will offset losses from the drop in Prosiebensat's long position.

The idea behind Bitwise Core Bitcoin and Prosiebensat 1 Media pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.