This module allows you to analyze existing cross correlation between HitBTC DigiByte USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on HitBTC DigiByte 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 DigiByte with a short position of BitTrex Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC DigiByte
and BitTrex Ethereum
HitBTC DigiByte USD vs BitTrex Ethereum Classic USD
Assuming 30 trading days horizon, HitBTC DigiByte is expected to generate 1.1 times less return on investment than BitTrex Ethereum. In addition to that, HitBTC DigiByte is 1.39 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.04 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.06 per unit of volatility. If you would invest 2,763 in BitTrex Ethereum Classic USD on December 24, 2017 and sell it today you would earn a total of 37 from holding BitTrex Ethereum Classic USD or generate 1.34% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigiByte 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 DigiByte 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 DigiByte 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 DigiByte i.e. HitBTC DigiByte and BitTrex Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigiByte USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.