This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and HitBTC Verge USD. You can compare the effects of market volatilities on Bitfinex Recovery and HitBTC Verge 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 Verge. See also your portfolio center. Please also check ongoing floating volatility patterns of Bitfinex Recovery and HitBTC Verge.
Bitfinex Recovery Right Tokens vs. HitBTC Verge USD
Recovery Right Tokens on Bitfinex in USD
Market Cap: 15 K
Verge on HitBTC in USD
Market Cap: 138.3 K
Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 4.15 times less return on investment than HitBTC Verge. But when comparing it to its historical volatility, Bitfinex Recovery Right Tokens USD is 1.49 times less risky than HitBTC Verge. It trades about 0.02 of its potential returns per unit of risk. HitBTC Verge USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 6.53 in HitBTC Verge USD on March 26, 2018 and sell it today you would earn a total of 0.11 from holding HitBTC Verge USD or generate 1.62% return on investment over 30 days.
Pair Corralation between Bitfinex Recovery and HitBTC Verge
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens and HitBTC Verge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Verge 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 Verge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Verge USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and HitBTC Verge 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 1 (%) of all global equities and portfolios over the last 30 days.
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