This module allows you to analyze existing cross correlation between CCEX BlakeCoin USD and HitBTC Autumncoin USD. You can compare the effects of market volatilities on CCEX BlakeCoin and HitBTC Autumncoin 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 CCEX BlakeCoin with a short position of HitBTC Autumncoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of CCEX BlakeCoin
and HitBTC Autumncoin
CCEX BlakeCoin USD vs HitBTC Autumncoin USD
Assuming 30 trading days horizon, CCEX BlakeCoin USD is expected to generate 11.74 times more return on investment than HitBTC Autumncoin. However, CCEX BlakeCoin is 11.74 times more volatile than HitBTC Autumncoin USD. It trades about 0.18 of its potential returns per unit of risk. HitBTC Autumncoin USD is currently generating about 0.16 per unit of risk. If you would invest 20 in CCEX BlakeCoin USD on November 12, 2017 and sell it today you would earn a total of 1.52 from holding CCEX BlakeCoin USD or generate 7.6% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding CCEX BlakeCoin USD and HitBTC Autumncoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Autumncoin USD and CCEX BlakeCoin 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 CCEX BlakeCoin USD are associated (or correlated) with HitBTC Autumncoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Autumncoin USD has no effect on the direction of CCEX BlakeCoin i.e. CCEX BlakeCoin and HitBTC Autumncoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BlakeCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.