Pair Correlation Between HitBTC Emercoin and HitBTC Stratis

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

HitBTC

Emercoin on HitBTC in USD
 5.93 
(0.26)  4.2%
Market Cap: 1 M

HitBTC

Stratis on HitBTC in USD
 12.4 
1.27  11.41%
Market Cap: 10.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Emercoin USD is expected to generate 1.05 times more return on investment than HitBTC Stratis. However, HitBTC Emercoin is 1.05 times more volatile than HitBTC Stratis USD. It trades about 0.26 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.01 per unit of risk. If you would invest  269  in HitBTC Emercoin USD on December 25, 2017 and sell it today you would earn a total of  324  from holding HitBTC Emercoin USD or generate 120.45% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Emercoin and HitBTC Stratis
0.1

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Emercoin USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Emercoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

HitBTC Emercoin USD

Pair trading matchups for HitBTC Emercoin

HitBTC Stratis USD

  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis