This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and CCEX GridCoin USD. You can compare the effects of market volatilities on HitBTC Bancor and CCEX GridCoin 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 CCEX GridCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Bancor
and CCEX GridCoin
HitBTC Bancor Network Token US vs CCEX GridCoin USD
Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the CCEX GridCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bancor Network Token USD is 1.85 times less risky than CCEX GridCoin. The crypto trades about -0.36 of its potential returns per unit of risk. The CCEX GridCoin USD is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 6.28 in CCEX GridCoin USD on February 22, 2018 and sell it today you would lose (1.64) from holding CCEX GridCoin USD or give up 26.11% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US and CCEX GridCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX GridCoin USD 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 CCEX GridCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX GridCoin USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and CCEX GridCoin go up and down completely randomly.
Over the last 30 days HitBTC Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days CCEX GridCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.