Correlation Analysis Between EXRATES Dogecoin and HitBTC Ardor

This module allows you to analyze existing cross correlation between EXRATES Dogecoin USD and HitBTC Ardor USD. You can compare the effects of market volatilities on EXRATES Dogecoin and HitBTC Ardor 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 EXRATES Dogecoin with a short position of HitBTC Ardor. See also your portfolio center. Please also check ongoing floating volatility patterns of EXRATES Dogecoin and HitBTC Ardor.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

EXRATES Dogecoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, EXRATES Dogecoin is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.
HitBTC Ardor USD  
00

Risk-Adjusted Performance

Over the last 30 days HitBTC Ardor USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, HitBTC Ardor is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

EXRATES Dogecoin and HitBTC Ardor Volatility Contrast

EXRATES Dogecoin USD  vs.  HitBTC Ardor USD

EXRATES

Dogecoin on EXRATES in USD

 0.002636 
0.00  0.00%
Market Cap: 1.7 K
  

HitBTC

Ardor on HitBTC in USD

 0.06 
0.00  0.00%
Market Cap: 5.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  6.10  in HitBTC Ardor USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding HitBTC Ardor USD or generate 0.0% return on investment over 30 days.

Pair Corralation between EXRATES Dogecoin and HitBTC Ardor

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for EXRATES Dogecoin and HitBTC Ardor

EXRATES Dogecoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES Dogecoin USD and HitBTC Ardor USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Ardor USD and EXRATES Dogecoin 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 EXRATES Dogecoin USD are associated (or correlated) with HitBTC Ardor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Ardor USD has no effect on the direction of EXRATES Dogecoin i.e. EXRATES Dogecoin and HitBTC Ardor go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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