Correlation Between Bitcoin Fund and Senvest Capital
Can any of the company-specific risk be diversified away by investing in both Bitcoin Fund and Senvest Capital 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 Bitcoin Fund and Senvest Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bitcoin Fund Unit and Senvest Capital, you can compare the effects of market volatilities on Bitcoin Fund and Senvest Capital 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 Bitcoin Fund with a short position of Senvest Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bitcoin Fund and Senvest Capital.
Diversification Opportunities for Bitcoin Fund and Senvest Capital
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bitcoin and Senvest is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Bitcoin Fund Unit and Senvest Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senvest Capital and Bitcoin Fund 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 Bitcoin Fund Unit are associated (or correlated) with Senvest Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Senvest Capital has no effect on the direction of Bitcoin Fund i.e., Bitcoin Fund and Senvest Capital go up and down completely randomly.
Pair Corralation between Bitcoin Fund and Senvest Capital
Assuming the 90 days trading horizon Bitcoin Fund Unit is expected to under-perform the Senvest Capital. In addition to that, Bitcoin Fund is 1.13 times more volatile than Senvest Capital. It trades about -0.1 of its total potential returns per unit of risk. Senvest Capital is currently generating about 0.12 per unit of volatility. If you would invest 32,500 in Senvest Capital on August 16, 2025 and sell it today you would earn a total of 5,000 from holding Senvest Capital or generate 15.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bitcoin Fund Unit vs. Senvest Capital
Performance |
| Timeline |
| Bitcoin Fund Unit |
| Senvest Capital |
Bitcoin Fund and Senvest Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bitcoin Fund and Senvest Capital
The main advantage of trading using opposite Bitcoin Fund and Senvest Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bitcoin Fund position performs unexpectedly, Senvest Capital 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 Senvest Capital will offset losses from the drop in Senvest Capital's long position.| Bitcoin Fund vs. Healthcare Special Opportunities | Bitcoin Fund vs. Citadel Income | Bitcoin Fund vs. Commerce Split Corp | Bitcoin Fund vs. Brookfield Global Infrastructure |
| Senvest Capital vs. Canadian General Investments | Senvest Capital vs. AGF Management Limited | Senvest Capital vs. Dividend 15 Split | Senvest Capital vs. Clairvest Group |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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