CODY Statistic Functions Beta
| CODY Crypto | USD 0.0006 0.000002 0.33% |
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CODY Technical Analysis Modules
Most technical analysis of CODY help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for CODY from various momentum indicators to cycle indicators. When you analyze CODY charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About CODY Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of CODY. We use our internally-developed statistical techniques to arrive at the intrinsic value of CODY based on widely used predictive technical indicators. In general, we focus on analyzing CODY Crypto Coin price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build CODY's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of CODY's intrinsic value. In addition to deriving basic predictive indicators for CODY, we also check how macroeconomic factors affect CODY price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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CODY pair trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if CODY position performs unexpectedly, the other equity 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 CODY will appreciate offsetting losses from the drop in the long position's value.CODY Pair Trading
CODY Pair Trading Analysis
The ability to find closely correlated positions to CODY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CODY 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 CODY - 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 CODY to buy it.
The correlation of CODY is a statistical measure of how it moves in relation to other instruments. 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 CODY moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CODY 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.
Correlation analysis and pair trading evaluation for CODY can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any cryptocurrency could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.