This module allows you to analyze existing cross correlation between HitBTC DigitalCash USD and HitBTC ZCash USD. You can compare the effects of market volatilities on HitBTC DigitalCash and HitBTC ZCash 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 ZCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC DigitalCash
and HitBTC ZCash
HitBTC DigitalCash USD vs HitBTC ZCash USD
Assuming 30 trading days horizon, HitBTC DigitalCash is expected to generate 2.23 times less return on investment than HitBTC ZCash. But when comparing it to its historical volatility, HitBTC DigitalCash USD is 1.01 times less risky than HitBTC ZCash. It trades about 0.04 of its potential returns per unit of risk. HitBTC ZCash USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 42,246 in HitBTC ZCash USD on January 21, 2018 and sell it today you would earn a total of 6,062 from holding HitBTC ZCash USD or generate 14.35% 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 DigitalCash USD and HitBTC ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ZCash 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 ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ZCash USD has no effect on the direction of HitBTC DigitalCash i.e. HitBTC DigitalCash and HitBTC ZCash go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigitalCash USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ZCash USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.