This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Poloniex Augur USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Poloniex 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 Poloniex Augur. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and Poloniex Augur
HitBTC ByteCoin USD vs Poloniex Augur USD
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 0.8 times more return on investment than Poloniex Augur. However, HitBTC ByteCoin USD is 1.25 times less risky than Poloniex Augur. It trades about 0.58 of its potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.34 per unit of risk. If you would invest 0.12 in HitBTC ByteCoin USD on November 17, 2017 and sell it today you would earn a total of 0.26 from holding HitBTC ByteCoin USD or generate 206.51% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Poloniex Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex 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 Poloniex Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Augur USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Poloniex Augur go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 38 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Poloniex Augur USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.