Pair Correlation Between HitBTC Autumncoin and BitTrex Ethereum

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

HitBTC

Autumncoin on HitBTC in USD
 0.016 
(0.0037)  18.78%
Market Cap: 10.8 K

BitTrex

Ethereum Classic on BitTrex in USD
 29 
(1.8)  5.84%
Market Cap: 233.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 1.42 times less return on investment than BitTrex Ethereum. In addition to that, HitBTC Autumncoin is 2.6 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.07 of its total potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.25 per unit of volatility. If you would invest  1,716  in BitTrex Ethereum Classic USD on November 14, 2017 and sell it today you would earn a total of  1,394  from holding BitTrex Ethereum Classic USD or generate 81.24% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and BitTrex Ethereum
-0.23

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Autumncoin USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and HitBTC Autumncoin 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 HitBTC Autumncoin USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of HitBTC Autumncoin i.e. HitBTC Autumncoin and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum Cla

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.