This module allows you to analyze existing cross correlation between BitTrex Ethereum Classic USD and HitBTC PeerCoin USD. You can compare the effects of market volatilities on BitTrex Ethereum and HitBTC PeerCoin 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 BitTrex Ethereum with a short position of HitBTC PeerCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Ethereum and HitBTC PeerCoin.
BitTrex Ethereum Classic USD vs. HitBTC PeerCoin USD
Ethereum Classic on BitTrex in USD
Market Cap: 21.5 M
PeerCoin on HitBTC in USD
Market Cap: 34.5 K
Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to generate 1.29 times more return on investment than HitBTC PeerCoin. However, BitTrex Ethereum is 1.29 times more volatile than HitBTC PeerCoin USD. It trades about -0.12 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about -0.18 per unit of risk. If you would invest 3,406 in BitTrex Ethereum Classic USD on March 20, 2018 and sell it today you would lose (1,580) from holding BitTrex Ethereum Classic USD or give up 46.39% of portfolio value over 30 days.
Pair Corralation between BitTrex Ethereum and HitBTC PeerCoin
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum Classic USD and HitBTC PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC PeerCoin USD and BitTrex Ethereum 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 BitTrex Ethereum Classic USD are associated (or correlated) with HitBTC PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC PeerCoin USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and HitBTC PeerCoin go up and down completely randomly.
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