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.
Assuming 30 trading days horizon, HitBTC DigitalCash USD is expected to under-perform the HitBTC ZCash. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigitalCash USD is 2.05 times less risky than HitBTC ZCash. The crypto trades about -0.36 of its potential returns per unit of risk. The HitBTC ZCash USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 31,964 in HitBTC ZCash USD on April 23, 2018 and sell it today you would earn a total of 1,013 from holding HitBTC ZCash USD or generate 3.17% return on investment over 30 days.
Pair Corralation between HitBTC DigitalCash and HitBTC ZCash
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.
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