This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and HitBTC PeerCoin USD. You can compare the effects of market volatilities on Bitfinex Recovery and HitBTC PeerCoin 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 Bitfinex Recovery with a short position of HitBTC PeerCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Recovery and HitBTC PeerCoin.
Bitfinex Recovery Right Tokens vs. HitBTC PeerCoin USD
Recovery Right Tokens on Bitfinex in USD
Market Cap: 15 K
PeerCoin on HitBTC in USD
Market Cap: 34.5 K
Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to generate 1.65 times more return on investment than HitBTC PeerCoin. However, Bitfinex Recovery is 1.65 times more volatile than HitBTC PeerCoin USD. It trades about 0.04 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about -0.11 per unit of risk. If you would invest 6.13 in Bitfinex Recovery Right Tokens USD on March 22, 2018 and sell it today you would earn a total of 0.05 from holding Bitfinex Recovery Right Tokens USD or generate 0.78% return on investment over 30 days.
Pair Corralation between Bitfinex Recovery and HitBTC PeerCoin
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens and HitBTC PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC PeerCoin USD and Bitfinex Recovery 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 Bitfinex Recovery Right Tokens USD are associated (or correlated) with HitBTC PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC PeerCoin USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and HitBTC PeerCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
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