Near Correlations

NEAR
 Crypto
  

USD 3.56  0.03  0.84%   

The correlation of Near is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Near moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Near moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, see Correlation Analysis.
  
The ability to find closely correlated positions to Near could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Near when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Near - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Near to buy it.

Moving together with Near

+0.91ETHEthereumPairCorr
+0.82ADACardanoPairCorr
+0.79LINKChainlinkPairCorr
+0.79MATICPolygonPairCorr
+0.74FTTFTX TokenPairCorr
+0.82AVAXAvalanchePairCorr
+0.61APEApeCoinPairCorr
+0.7WBTCWrapped BitcoinPairCorr
+0.82OKBOKBPairCorr
+0.74OPOptimismPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
AVAXFTT
MATICETH
FTTSOL
AVAXSOL
FTTADA
AVAXADA
  
High negative correlations   
UNIXRP
FTTXRP
DOTXRP
AVAXXRP
XRPETH
ADAXRP

Near Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Near Crypto Coin performing well and Near cryptocurrency doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Near's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean
Deviation
Jensen
Alpha
Sortino
Ratio
Treynor
Ratio
Semi
Deviation
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
ETH 3.98  0.51  0.09  0.64  5.46  0.09 (4.09)  8.84 (11.07)  26.63 
XRP 3.39  0.76  0.14  1.71  3.32  0.16 (5.60)  7.89 (8.16)  33.80 
SOL 3.85  0.10  0.03  0.24  5.16  0.0287 (3.94)  6.71 (9.34)  23.42 
ADA 3.29  0.01  0.01  0.00  4.45  0.0143 (4.53)  6.67 (9.80)  24.81 
DOT 3.08 (0.91)  0.00 (2.44)  0.00 (0.21)  0.00  5.06 (9.53)  16.58 
LINK 4.03  0.42  0.07  1.30  5.75  0.09 (3.71)  8.03 (8.84)  27.24 
MATIC 4.93  0.87  0.16 (2.41)  5.78  0.14 (5.42)  10.94 (10.34)  39.45 
FTT 2.74  0.06  0.03  0.16  4.13  0.0295 (2.71)  4.70 (6.53)  20.67 
AVAX 4.31  0.25  0.05  0.57  5.34  0.049 (4.82)  10.67 (9.90)  28.75 
UNI 4.01  0.37  0.06  0.60  6.23  0.07 (3.95)  9.83 (12.13)  17.64 

Be your own crypto manager

Our tools can tell you how much better you can do entering a position in Near without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.

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How to invest in Near

You need to understand the risk of getting into digital currencies such as NEAR before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in Near in four ways:

Buy NEAR through an exchange

Get yourself a crypto wallet before embarking on your Near journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase Near. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.

Purchase fractions of Near through an exchange

You don't have to buy a full token when starting out since NEAR is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.

Trade Near through a broker

If you don't want to store your Near Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.

Invest in NEAR through an exchange-traded fund (ETF)

You can also invest in NEAR through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.

Investing Ideas

In addition to having Near in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
Explore Thematic Ideas
Explore Investing Ideas  
Additionally, see Correlation Analysis. Note that the Near information on this page should be used as a complementary analysis to other Near's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Transaction History module to view history of all your transactions and understand their impact on performance.

Other Tools for Near Crypto Coin

When running Near price analysis, check to measure Near's coin volatility and technical momentum indicators. We have many different tools that can be utilized to determine how healthy Near is operating at the current time. Most of Near's value examination focuses on studying past and present price actions to predict the probability of Near's future price movements. You can analyze the coin against its peers and the financial market as a whole to determine factors that move Near's coin price. Additionally, you may evaluate how adding Near to your portfolios can decrease your overall portfolio volatility.
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