Correlation Between Linewell Software and Bitdeer Technologies
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By analyzing existing cross correlation between Linewell Software Co and Bitdeer Technologies Group, you can compare the effects of market volatilities on Linewell Software and Bitdeer Technologies 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 Linewell Software with a short position of Bitdeer Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Linewell Software and Bitdeer Technologies.
Diversification Opportunities for Linewell Software and Bitdeer Technologies
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Linewell and Bitdeer is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Linewell Software Co and Bitdeer Technologies Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bitdeer Technologies and Linewell Software 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 Linewell Software Co are associated (or correlated) with Bitdeer Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitdeer Technologies has no effect on the direction of Linewell Software i.e., Linewell Software and Bitdeer Technologies go up and down completely randomly.
Pair Corralation between Linewell Software and Bitdeer Technologies
Assuming the 90 days trading horizon Linewell Software is expected to generate 2.87 times less return on investment than Bitdeer Technologies. But when comparing it to its historical volatility, Linewell Software Co is 3.37 times less risky than Bitdeer Technologies. It trades about 0.02 of its potential returns per unit of risk. Bitdeer Technologies Group is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 1,295 in Bitdeer Technologies Group on August 26, 2025 and sell it today you would lose (143.00) from holding Bitdeer Technologies Group or give up 11.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 92.19% |
| Values | Daily Returns |
Linewell Software Co vs. Bitdeer Technologies Group
Performance |
| Timeline |
| Linewell Software |
| Bitdeer Technologies |
Linewell Software and Bitdeer Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Linewell Software and Bitdeer Technologies
The main advantage of trading using opposite Linewell Software and Bitdeer Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Linewell Software position performs unexpectedly, Bitdeer Technologies 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 Bitdeer Technologies will offset losses from the drop in Bitdeer Technologies' long position.| Linewell Software vs. Techshine Electronics Co | Linewell Software vs. Changjiang Publishing Media | Linewell Software vs. Shanghai Action Education | Linewell Software vs. Xizi Clean Energy |
| Bitdeer Technologies vs. EvoAir Holdings | Bitdeer Technologies vs. Mayfair Gold Corp | Bitdeer Technologies vs. Xtera Communications | Bitdeer Technologies vs. Space Communication |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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