This module allows you to analyze existing cross correlation between BitTrex Ethereum Classic USD and HitBTC ZCash USD. You can compare the effects of market volatilities on BitTrex Ethereum and HitBTC ZCash 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 ZCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of BitTrex Ethereum
and HitBTC ZCash
BitTrex Ethereum Classic USD vs HitBTC ZCash USD
Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the HitBTC ZCash. In addition to that, BitTrex Ethereum is 1.21 times more volatile than HitBTC ZCash USD. It trades about -0.06 of its total potential returns per unit of risk. HitBTC ZCash USD is currently generating about -0.02 per unit of volatility. If you would invest 57,748 in HitBTC ZCash USD on December 18, 2017 and sell it today you would lose (9,243) from holding HitBTC ZCash USD or give up 16.01% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum Classic USD and HitBTC ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ZCash 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 ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ZCash USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and HitBTC ZCash go up and down completely randomly.
Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.