This module allows you to analyze existing cross correlation between HitBTC DigitalCash USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on HitBTC DigitalCash 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 DigitalCash with a short position of BitTrex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC DigitalCash and BitTrex Ethereum.
HitBTC DigitalCash USD vs. BitTrex Ethereum Classic USD
DigitalCash on HitBTC in USD
Market Cap: 2.7 M
Ethereum Classic on BitTrex in USD
Market Cap: 21.5 M
Assuming 30 trading days horizon, HitBTC DigitalCash USD is expected to generate 0.89 times more return on investment than BitTrex Ethereum. However, HitBTC DigitalCash USD is 1.13 times less risky than BitTrex Ethereum. It trades about -0.11 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.14 per unit of risk. If you would invest 73,251 in HitBTC DigitalCash USD on March 21, 2018 and sell it today you would lose (28,391) from holding HitBTC DigitalCash USD or give up 38.76% of portfolio value over 30 days.
Pair Corralation between HitBTC DigitalCash and BitTrex Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigitalCash USD 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 DigitalCash 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 DigitalCash 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 DigitalCash i.e. HitBTC DigitalCash and BitTrex Ethereum go up and down completely randomly.
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