This module allows you to analyze existing cross correlation between Coinbase Ethereum USD and HitBTC Ethereum USD. You can compare the effects of market volatilities on Coinbase Ethereum and HitBTC 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 Coinbase Ethereum with a short position of HitBTC Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Ethereum
and HitBTC Ethereum
Coinbase Ethereum USD vs HitBTC Ethereum USD
Assuming 30 trading days horizon, Coinbase Ethereum is expected to generate 1.13 times less return on investment than HitBTC Ethereum. But when comparing it to its historical volatility, Coinbase Ethereum USD is 1.07 times less risky than HitBTC Ethereum. It trades about 0.17 of its potential returns per unit of risk. HitBTC Ethereum USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 66,860 in HitBTC Ethereum USD on December 23, 2017 and sell it today you would earn a total of 30,966 from holding HitBTC Ethereum USD or generate 46.31% return on investment over 30 days.
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Ethereum USD and HitBTC Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Ethereum USD and Coinbase 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 Coinbase Ethereum USD are associated (or correlated) with HitBTC Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Ethereum USD has no effect on the direction of Coinbase Ethereum i.e. Coinbase Ethereum and HitBTC Ethereum go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Ethereum 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 Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.