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
DigiByte on HitBTC in USD
Market Cap: 6.5 K
Ethereum Classic on BitTrex in USD
Market Cap: 21.5 M
Assuming 30 trading days horizon, HitBTC DigiByte USD is expected to generate 1.1 times more return on investment than BitTrex Ethereum. However, HitBTC DigiByte is 1.1 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 -0.11 per unit of risk. If you would invest 3.83 in HitBTC DigiByte USD on March 22, 2018 and sell it today you would lose (0.37) from holding HitBTC DigiByte USD or give up 9.66% of portfolio value over 30 days.
Pair Corralation between HitBTC DigiByte and BitTrex Ethereum
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.
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.