Pair Correlation Between Bitfinex Recovery and HitBTC Stratis

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

Bitfinex Recovery Right Tokens  vs.  HitBTC Stratis USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.06266 
0.00346  5.23%
Market Cap: 15 K
  

HitBTC

Stratis on HitBTC in USD
 6.23 
0.35  5.95%
Market Cap: 20.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to generate 1.25 times more return on investment than HitBTC Stratis. However, Bitfinex Recovery is 1.25 times more volatile than HitBTC Stratis USD. It trades about 0.01 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about -0.03 per unit of risk. If you would invest  7.24  in Bitfinex Recovery Right Tokens USD on March 24, 2018 and sell it today you would lose (0.98)  from holding Bitfinex Recovery Right Tokens USD or give up 13.5% of portfolio value over 30 days.

Pair Corralation between Bitfinex Recovery and HitBTC Stratis

0.76
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Recovery Right  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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.

My Equities

My Current Equities and Potential Positions
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WEN - USA Stock
The Wendys Company
Fama & French Restaurants Hotels Motels
Restaurants Hotels Motels
Fama & French Classification
RegionNorth America
ExchangeNASDAQ
$17.22

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.