Pair Correlation Between HitBTC ByteCoin and BitTrex Ethereum

This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on HitBTC ByteCoin and BitTrex 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 HitBTC ByteCoin with a short position of BitTrex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ByteCoin and BitTrex Ethereum.
 Time Horizon     30 Days    Login   to change
 HitBTC ByteCoin USD  vs   BitTrex Ethereum Classic USD


ByteCoin on HitBTC in USD
0.001178  22.97%
Market Cap: 476.8 K


Ethereum Classic on BitTrex in USD
(16)  39.02%
Market Cap: 88.6 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 2.29 times more return on investment than BitTrex Ethereum. However, HitBTC ByteCoin is 2.29 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.14 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.06 per unit of risk. If you would invest  0.44  in HitBTC ByteCoin USD on December 18, 2017 and sell it today you would earn a total of  0.2  from holding HitBTC ByteCoin USD or generate 44.87% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC ByteCoin and BitTrex Ethereum


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and HitBTC ByteCoin 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 HitBTC ByteCoin USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

HitBTC ByteCoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum Cla


Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.