This module allows you to analyze existing cross correlation between CCEX BlakeCoin USD and HitBTC DigiByte USD. You can compare the effects of market volatilities on CCEX BlakeCoin and HitBTC DigiByte 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 DigiByte. See also your portfolio center
. Please also check ongoing floating volatility patterns of CCEX BlakeCoin
and HitBTC DigiByte
CCEX BlakeCoin USD vs HitBTC DigiByte USD
Assuming 30 trading days horizon, CCEX BlakeCoin USD is expected to generate 14.46 times more return on investment than HitBTC DigiByte. However, CCEX BlakeCoin is 14.46 times more volatile than HitBTC DigiByte USD. It trades about 0.17 of its potential returns per unit of risk. HitBTC DigiByte USD is currently generating about 0.3 per unit of risk. If you would invest 20 in CCEX BlakeCoin USD on November 16, 2017 and sell it today you would lose (1.79) from holding CCEX BlakeCoin USD or give up 8.95% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding CCEX BlakeCoin USD and HitBTC DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigiByte 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 DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigiByte USD has no effect on the direction of CCEX BlakeCoin i.e. CCEX BlakeCoin and HitBTC DigiByte 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 DigiByte USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.