I guess it's partially speculation on my part. I try to keep my Hive/HBD holdings at about 50/50. Up until recently, I had a greater value in hive and was always putting my HBD in savings. Now, with the recent drop in the price in hive, that has flip-flopped so I'm always buying hive with my liquid HBD and plan to keep doing so until I'm back to 50/50. Also, my understanding of the conversion process is that you get some kind of average based on the price over the three day conversion period so it isn't like you are getting the value things are at the moment you decide to convert. I'm doing very small amounts daily so I suspect it comes out about the same on average.