This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and HitBTC DigitalCash USD. You can compare the effects of market volatilities on HitBTC Bancor and HitBTC DigitalCash 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 HitBTC DigitalCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Bancor
and HitBTC DigitalCash
HitBTC Bancor Network Token US vs HitBTC DigitalCash USD
Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 1.1 times less return on investment than HitBTC DigitalCash. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 1.22 times less risky than HitBTC DigitalCash. It trades about 0.35 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about 0.31 of returns per unit of risk over similar time horizon. If you would invest 42,356 in HitBTC DigitalCash USD on November 13, 2017 and sell it today you would earn a total of 37,038 from holding HitBTC DigitalCash USD or generate 87.44% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US and HitBTC DigitalCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalCash 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 HitBTC DigitalCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalCash USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and HitBTC DigitalCash go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigitalCash USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.