Correlation Between Rogue Station and XTRA Bitcoin

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

By analyzing existing cross correlation between Rogue Station Companies and XTRA Bitcoin, you can compare the effects of market volatilities on Rogue Station and XTRA Bitcoin 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 Rogue Station with a short position of XTRA Bitcoin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rogue Station and XTRA Bitcoin.

Diversification Opportunities for Rogue Station and XTRA Bitcoin

0.0

Correlation Coefficient

Rogue Station  XTRA Bitcoin

Pay attention - limited upside

The 3 months correlation between Rogue and XTRA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Rogue Station Companies and XTRA Bitcoin in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on XTRA Bitcoin and Rogue Station 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 Rogue Station Companies are associated (or correlated) with XTRA Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XTRA Bitcoin has no effect on the direction of Rogue Station i.e., Rogue Station and XTRA Bitcoin go up and down completely randomly.

Pair Corralation between Rogue Station and XTRA Bitcoin

If you would invest  0.08  in XTRA Bitcoin on May 3, 2025 and sell it today you would earn a total of  0.01  from holding XTRA Bitcoin or generate 12.5% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Rogue Station Companies  vs.  XTRA Bitcoin

Rogue Station Companies

Risk-Adjusted Performance

Very Weak

Over the last 90 days Rogue Station Companies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Rogue Station is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

XTRA Bitcoin

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in XTRA Bitcoin are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of rather fragile basic indicators, XTRA Bitcoin exhibited solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Rogue Station and XTRA Bitcoin

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

The idea behind Rogue Station Companies and XTRA Bitcoin 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.

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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.