Correlation Between Bit Origin and Bell Buckle

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

By analyzing existing cross correlation between Bit Origin and Bell Buckle Holdings, you can compare the effects of market volatilities on Bit Origin and Bell Buckle 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 Bit Origin with a short position of Bell Buckle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bit Origin and Bell Buckle.

Diversification Opportunities for Bit Origin and Bell Buckle

-0.05

Correlation Coefficient

Bit Origin  Bell Buckle

Good diversification

The 3 months correlation between Bit and Bell is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Bit Origin and Bell Buckle Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bell Buckle Holdings and Bit Origin 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 Bit Origin are associated (or correlated) with Bell Buckle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bell Buckle Holdings has no effect on the direction of Bit Origin i.e., Bit Origin and Bell Buckle go up and down completely randomly.

Pair Corralation between Bit Origin and Bell Buckle

Given the investment horizon of 90 days Bit Origin is expected to generate 1.08 times more return on investment than Bell Buckle. However, Bit Origin is 1.08 times more volatile than Bell Buckle Holdings. It trades about 0.13 of its potential returns per unit of risk. Bell Buckle Holdings is currently generating about 0.04 per unit of risk. If you would invest  19.00  in Bit Origin on May 2, 2025 and sell it today you would earn a total of  20.00  from holding Bit Origin or generate 105.26% return on investment over 90 days.

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

Bit Origin  vs.  Bell Buckle Holdings

Bit Origin

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Bit Origin are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly unsteady basic indicators, Bit Origin reported solid returns over the last few months and may actually be approaching a breakup point.

Bell Buckle Holdings

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Bell Buckle Holdings are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite somewhat fragile essential indicators, Bell Buckle sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Bit Origin and Bell Buckle

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

The idea behind Bit Origin and Bell Buckle Holdings 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.