This module allows you to analyze existing cross correlation between Exmo Ethereum USD and HitBTC Ethereum USD. You can compare the effects of market volatilities on Exmo Ethereum and HitBTC Ethereum 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 Exmo Ethereum with a short position of HitBTC Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Exmo Ethereum
and HitBTC Ethereum
Exmo Ethereum USD vs HitBTC Ethereum USD
Assuming 30 trading days horizon, Exmo Ethereum USD is expected to under-perform the HitBTC Ethereum. In addition to that, Exmo Ethereum is 1.04 times more volatile than HitBTC Ethereum USD. It trades about -0.43 of its total potential returns per unit of risk. HitBTC Ethereum USD is currently generating about -0.43 per unit of volatility. If you would invest 94,595 in HitBTC Ethereum USD on February 18, 2018 and sell it today you would lose (39,423) from holding HitBTC Ethereum USD or give up 41.68% of portfolio value over 30 days.
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Exmo Ethereum USD and HitBTC Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Ethereum USD and Exmo 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 Exmo Ethereum USD are associated (or correlated) with HitBTC Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Ethereum USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and HitBTC Ethereum go up and down completely randomly.
Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.