Correlation Between FactSet Research and Bit Origin

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

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

Diversification Opportunities for FactSet Research and Bit Origin

-0.58

Correlation Coefficient

FactSet Research  Bit Origin

Excellent diversification

The 3 months correlation between FactSet and Bit is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding FactSet Research Systems and Bit Origin in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bit Origin and FactSet Research 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 FactSet Research Systems are associated (or correlated) with Bit Origin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bit Origin has no effect on the direction of FactSet Research i.e., FactSet Research and Bit Origin go up and down completely randomly.

Pair Corralation between FactSet Research and Bit Origin

Considering the 90-day investment horizon FactSet Research Systems is expected to under-perform the Bit Origin. But the stock apears to be less risky and, when comparing its historical volatility, FactSet Research Systems is 13.44 times less risky than Bit Origin. The stock trades about -0.22 of its potential returns per unit of risk. The Bit Origin is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  17.00  in Bit Origin on May 26, 2025 and sell it today you would earn a total of  32.00  from holding Bit Origin or generate 188.24% return on investment over 90 days.

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

FactSet Research Systems  vs.  Bit Origin

FactSet Research Systems

Risk-Adjusted Performance

Weakest

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

Bit Origin

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Bit Origin are ranked lower than 12 (%) 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.

Pair Trading with FactSet Research and Bit Origin

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

The idea behind FactSet Research Systems and Bit Origin 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 CEOs Directory module to screen CEOs from public companies around the world.