This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Kraken Augur USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Kraken Augur 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 ByteCoin with a short position of Kraken Augur. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and Kraken Augur
HitBTC ByteCoin USD vs Kraken Augur USD
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to under-perform the Kraken Augur. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC ByteCoin USD is 2.25 times less risky than Kraken Augur. The crypto trades about -0.51 of its potential returns per unit of risk. The Kraken Augur USD is currently generating about -0.14 of returns per unit of risk over similar time horizon. If you would invest 5,799 in Kraken Augur USD on February 16, 2018 and sell it today you would lose (3,099) from holding Kraken Augur USD or give up 53.44% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Kraken Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken Augur USD and HitBTC ByteCoin 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 ByteCoin USD are associated (or correlated) with Kraken Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken Augur USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Kraken Augur go up and down completely randomly.
Over the last 30 days HitBTC ByteCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Kraken Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.