This module allows you to analyze existing cross correlation between Lykke Bitcoin USD and HitBTC Bitcoin USD. You can compare the effects of market volatilities on Lykke Bitcoin and HitBTC Bitcoin 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 Lykke Bitcoin with a short position of HitBTC Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Lykke Bitcoin
and HitBTC Bitcoin
Lykke Bitcoin USD vs HitBTC Bitcoin USD
Assuming 30 trading days horizon, Lykke Bitcoin is expected to generate 1.02 times less return on investment than HitBTC Bitcoin. In addition to that, Lykke Bitcoin is 1.03 times more volatile than HitBTC Bitcoin USD. It trades about 0.41 of its total potential returns per unit of risk. HitBTC Bitcoin USD is currently generating about 0.43 per unit of volatility. If you would invest 719,703 in HitBTC Bitcoin USD on November 14, 2017 and sell it today you would earn a total of 945,971 from holding HitBTC Bitcoin USD or generate 131.44% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Lykke Bitcoin USD and HitBTC Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Bitcoin USD and Lykke Bitcoin 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 Lykke Bitcoin USD are associated (or correlated) with HitBTC Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Bitcoin USD has no effect on the direction of Lykke Bitcoin i.e. Lykke Bitcoin and HitBTC Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Lykke Bitcoin USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.