This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and CCEX Asiadigicoin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and CCEX Asiadigicoin 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 Coinbase Bitcoin with a short position of CCEX Asiadigicoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Bitcoin and CCEX Asiadigicoin.
Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 3.56 times less return on investment than CCEX Asiadigicoin. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 2.73 times less risky than CCEX Asiadigicoin. It trades about 0.22 of its potential returns per unit of risk. CCEX Asiadigicoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 0.11 in CCEX Asiadigicoin USD on June 22, 2018 and sell it today you would earn a total of 0.09 from holding CCEX Asiadigicoin USD or generate 85.99% return on investment over 30 days.
Pair Corralation between Coinbase Bitcoin and CCEX Asiadigicoin
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and CCEX Asiadigicoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX Asiadigicoin USD and Coinbase Bitcoin 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 Coinbase Bitcoin USD are associated (or correlated) with CCEX Asiadigicoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX Asiadigicoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and CCEX Asiadigicoin go up and down completely randomly.
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