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
Over the last 30 days Coinbase Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinbase Ethereum and HitBTC Ethereum Volatility Contrast
Coinbase Ethereum USD vs. HitBTC Ethereum USD
If you would invest 13,136 in Coinbase Ethereum USD on December 17, 2018 and sell it today you would lose (1,017) from holding Coinbase Ethereum USD or give up 7.74% of portfolio value over 30 days.
Pair Corralation between Coinbase Ethereum and HitBTC Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for Coinbase Ethereum and HitBTC Ethereum
Very good diversification
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.