This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and HitBTC Stratis USD. You can compare the effects of market volatilities on HitBTC ByteCoin and HitBTC Stratis 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 HitBTC Stratis. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ByteCoin and HitBTC Stratis.
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 1.09 times more return on investment than HitBTC Stratis. However, HitBTC ByteCoin is 1.09 times more volatile than HitBTC Stratis USD. It trades about 0.04 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about -0.04 per unit of risk. If you would invest 0.49 in HitBTC ByteCoin USD on March 24, 2018 and sell it today you would earn a total of 0.01 from holding HitBTC ByteCoin USD or generate 1.34% return on investment over 30 days.
Pair Corralation between HitBTC ByteCoin and HitBTC Stratis
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and HitBTC Stratis USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Stratis 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 HitBTC Stratis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Stratis USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and HitBTC Stratis go up and down completely randomly.
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