Correlation Between USD Coin and 1inch

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both USD Coin and 1inch 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 USD Coin and 1inch into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between USD Coin and 1inch, you can compare the effects of market volatilities on USD Coin and 1inch 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 USD Coin with a short position of 1inch. Check out your portfolio center. Please also check ongoing floating volatility patterns of USD Coin and 1inch.

Diversification Opportunities for USD Coin and 1inch

0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between USD Coin and 1inch

If you would invest  100.00  in USD Coin on April 8, 2022 and sell it today you would earn a total of  0.00  from holding USD Coin or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

USD Coin  vs.  1inch

 Performance (%) 
      Timeline 
USD Coin 
USD Coin Performance
0 of 100
Over the last 90 days USD Coin has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong fundamental indicators, USD Coin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

USD Coin Price Channel

1inch 
1inch Performance
0 of 100
Over the last 90 days 1inch has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain somewhat strong which may send shares a bit higher in August 2022. The current disturbance may also be a sign of long term up-swing for 1inch investors.

1inch Price Channel

USD Coin and 1inch Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with USD Coin and 1inch

The main advantage of trading using opposite USD Coin and 1inch positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if USD Coin position performs unexpectedly, 1inch 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 1inch will offset losses from the drop in 1inch's long position.
The idea behind USD Coin and 1inch 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

Other Complementary Tools

Portfolio Anywhere
Track or share privately all of your investments from the convenience of any device
Go
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
Global Correlations
Find global opportunities by holding instruments from different markets
Go
Bond Analysis
Evaluate and analyze corporate bonds as a potential investment for your portfolios.
Go
Alpha Finder
Use alpha and beta coefficients to find investment opportunities after accounting for the risk
Go
Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges
Go
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Go
Fund Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Go
Headlines Timeline
Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
Go
Global Markets Map
Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes
Go
Crypto Correlations
Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
Go