This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on HitBTC Bancor 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 Bancor with a short position of BitTrex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Bancor and BitTrex Ethereum.
HitBTC Bancor Network Token US vs. BitTrex Ethereum Classic USD
Bancor Network Token on HitBTC in USD
Market Cap: 1.4 M
Ethereum Classic on BitTrex in USD
Market Cap: 4.8 M
Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.87 times more return on investment than BitTrex Ethereum. However, HitBTC Bancor Network Token USD is 1.15 times less risky than BitTrex Ethereum. It trades about -0.12 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.18 per unit of risk. If you would invest 487.00 in HitBTC Bancor Network Token USD on April 23, 2018 and sell it today you would lose (98.00) from holding HitBTC Bancor Network Token USD or give up 20.12% of portfolio value over 30 days.
Pair Corralation between HitBTC Bancor and BitTrex Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US 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 Bancor 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 Bancor Network Token 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 Bancor i.e. HitBTC Bancor and BitTrex Ethereum go up and down completely randomly.
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