This module allows you to analyze existing cross correlation between BitTrex Ethereum USD and BTCAlpha Ethereum USD. You can compare the effects of market volatilities on BitTrex Ethereum and BTCAlpha Ethereum 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 BTCAlpha Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Ethereum and BTCAlpha Ethereum.
|Horizon||30 Days Login to change|
|BitTrex Ethereum USD|
Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fragile performance in the last few months, the Crypto's basic indicators remain fairly strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
|BTCAlpha Ethereum USD|
Over the last 30 days BTCAlpha Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, BTCAlpha Ethereum is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
BitTrex Ethereum and BTCAlpha Ethereum Volatility Contrast
BitTrex Ethereum USD vs. BTCAlpha Ethereum USD
Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to under-perform the BTCAlpha Ethereum. In addition to that, BitTrex Ethereum is 6.53 times more volatile than BTCAlpha Ethereum USD. It trades about -0.71 of its total potential returns per unit of risk. BTCAlpha Ethereum USD is currently generating about 0.71 per unit of volatility. If you would invest 21,584 in BTCAlpha Ethereum USD on August 22, 2019 and sell it today you would earn a total of 33.00 from holding BTCAlpha Ethereum USD or generate 0.15% return on investment over 30 days.
Pair Corralation between BitTrex Ethereum and BTCAlpha Ethereum
|Time Period||3 Months [change]|
Diversification Opportunities for BitTrex Ethereum and BTCAlpha Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum USD and BTCAlpha Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BTCAlpha Ethereum 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 USD are associated (or correlated) with BTCAlpha Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTCAlpha Ethereum USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and BTCAlpha Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of macroaxis ideas.