This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and LiveCoin Hellenic Coin USD. You can compare the effects of market volatilities on HitBTC ByteCoin and LiveCoin Hellenic 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 LiveCoin Hellenic. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and LiveCoin Hellenic
HitBTC ByteCoin USD vs LiveCoin Hellenic Coin USD
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 0.73 times more return on investment than LiveCoin Hellenic. However, HitBTC ByteCoin USD is 1.37 times less risky than LiveCoin Hellenic. It trades about -0.07 of its potential returns per unit of risk. LiveCoin Hellenic Coin USD is currently generating about -0.17 per unit of risk. If you would invest 0.63 in HitBTC ByteCoin USD on January 25, 2018 and sell it today you would lose (0.18) from holding HitBTC ByteCoin USD or give up 28.23% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and LiveCoin Hellenic Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Hellenic Coin 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 LiveCoin Hellenic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Hellenic Coin has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and LiveCoin Hellenic 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 LiveCoin Hellenic Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.