This module allows you to analyze existing cross correlation between BitTrex Ethereum Classic USD and HitBTC PeerCoin USD. You can compare the effects of market volatilities on BitTrex Ethereum 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 BitTrex Ethereum with a short position of HitBTC PeerCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of BitTrex Ethereum
and HitBTC PeerCoin
BitTrex Ethereum Classic USD vs HitBTC PeerCoin USD
Assuming 30 trading days horizon, BitTrex Ethereum is expected to generate 2.41 times less return on investment than HitBTC PeerCoin. But when comparing it to its historical volatility, BitTrex Ethereum Classic USD is 1.37 times less risky than HitBTC PeerCoin. It trades about 0.1 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 406 in HitBTC PeerCoin USD on December 23, 2017 and sell it today you would earn a total of 165 from holding HitBTC PeerCoin USD or generate 40.64% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum Classic USD 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 BitTrex Ethereum 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 BitTrex Ethereum Classic 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 BitTrex Ethereum i.e. BitTrex Ethereum and HitBTC PeerCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.