Pair Correlation Between HitBTC DigitalCash and BitTrex Ethereum

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

HitBTC DigitalCash USD  vs.  BitTrex Ethereum Classic USD

HitBTC

DigitalCash on HitBTC in USD
 520.89 
12.71  2.38%
Market Cap: 1.3 B
  

BitTrex

Ethereum Classic on BitTrex in USD
 21.65 
0.63  2.83%
Market Cap: 21.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigitalCash USD is expected to generate 1.02 times more return on investment than BitTrex Ethereum. However, HitBTC DigitalCash is 1.02 times more volatile than BitTrex Ethereum Classic USD. It trades about -0.01 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.14 per unit of risk. If you would invest  60,145  in HitBTC DigitalCash USD on March 25, 2018 and sell it today you would lose (6,855)  from holding HitBTC DigitalCash USD or give up 11.4% of portfolio value over 30 days.

Pair Corralation between HitBTC DigitalCash and BitTrex Ethereum

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigitalCash 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 DigitalCash 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 DigitalCash 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 DigitalCash i.e. HitBTC DigitalCash and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC DigitalCash USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
BitTrex Ethereum Cla  
0 

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.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1019.98

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