Pair Correlation Between HitBTC DigitalCash and HitBTC Verge |
This module allows you to analyze existing cross correlation between HitBTC DigitalCash USD and HitBTC Verge USD. You can compare the effects of market volatilities on HitBTC DigitalCash and HitBTC Verge 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 HitBTC Verge. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC DigitalCash and HitBTC Verge.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
HitBTC DigitalCash USD vs. HitBTC Verge USD
HitBTCDigitalCash on HitBTC in USD 459.39
| HitBTCVerge on HitBTC in USD 0.07006
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC DigitalCash USD is expected to under-perform the HitBTC Verge. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigitalCash USD is 2.09 times less risky than HitBTC Verge. The crypto trades about -0.09 of its potential returns per unit of risk. The HitBTC Verge USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 6.29 in HitBTC Verge USD on March 23, 2018 and sell it today you would earn a total of 0.61 from holding HitBTC Verge USD or generate 9.73% return on investment over 30 days.
Pair Corralation between HitBTC DigitalCash and HitBTC Verge
-0.39
| Time Period | 2 Months [change] |
| Direction | Negative |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigitalCash USD and HitBTC Verge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Verge USD 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 HitBTC Verge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Verge USD has no effect on the direction of HitBTC DigitalCash i.e. HitBTC DigitalCash and HitBTC Verge go up and down completely randomly.
Comparative Volatility
| HitBTC DigitalCash USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC DigitalCash USD
Pair trading matchups for HitBTC DigitalCash
| HitBTC Verge USD |
4 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
HitBTC Verge USD
Pair trading matchups for HitBTC Verge
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