Pair Correlation Between HitBTC ByteCoin and Cexio Ethereum |
This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Cexio Ethereum USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Cexio 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 Cexio Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ByteCoin and Cexio Ethereum.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
HitBTC ByteCoin USD vs. Cexio Ethereum USD
HitBTCByteCoin on HitBTC in USD 0.005165
| CexioEthereum on Cexio in USD 677.79
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 1.42 times more return on investment than Cexio Ethereum. However, HitBTC ByteCoin is 1.42 times more volatile than Cexio Ethereum USD. It trades about 0.06 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.04 per unit of risk. If you would invest 0.46 in HitBTC ByteCoin USD on March 25, 2018 and sell it today you would earn a total of 0.06 from holding HitBTC ByteCoin USD or generate 12.55% return on investment over 30 days.
Pair Corralation between HitBTC ByteCoin and Cexio Ethereum
0.59
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Weak |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Cexio Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Ethereum USD 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 Cexio Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Ethereum USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Cexio Ethereum go up and down completely randomly.
Comparative Volatility
| HitBTC ByteCoin USD |
4 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
HitBTC ByteCoin USD
Pair trading matchups for HitBTC ByteCoin
| Cexio Ethereum USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Ethereum USD
Pair trading matchups for Cexio Ethereum
My Equities
My Current Equities and Potential Positions
| View AllNext |
GOOG - USA StockAlphabet |
Specialization | IT, Search Cloud And Integrated IT Services |
| Business Address | 1600 Amphitheatre Parkway |
| Exchange | NASDAQ |
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.
Try Other Suggestions
| GTVJX | Goldman Sachs Target Date 2030 | Fund | ||
| GTVMX | Goldman Sachs Target Date 2040 | Fund | ||
| GTVOX | Goldman Sachs Target Date 2035 | Fund | ||
| GTVSX | Goldman Sachs Target Date 2050 | Fund | ||
| FPPXX | Government Obligations Fund Cl | Fund | ||
| ELKMF | Gold Road Resources Limited | Stock | ||
| GCGAX | Goldman Sachs Concentrated Gro | Fund |
Thematic Opportunities
Explore Investment Opportunities
See also your portfolio center. Please also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.