This module allows you to analyze existing cross correlation between HitBTC PeerCoin USD and Cexio Ethereum USD. You can compare the effects of market volatilities on HitBTC PeerCoin and Cexio 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 PeerCoin with a short position of Cexio Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC PeerCoin and Cexio Ethereum.
Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to under-perform the Cexio Ethereum. In addition to that, HitBTC PeerCoin is 1.11 times more volatile than Cexio Ethereum USD. It trades about -0.08 of its total potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.09 per unit of volatility. If you would invest 85,500 in Cexio Ethereum USD on March 22, 2018 and sell it today you would lose (24,285) from holding Cexio Ethereum USD or give up 28.4% of portfolio value over 30 days.
Pair Corralation between HitBTC PeerCoin and Cexio Ethereum
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC PeerCoin USD and Cexio Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Ethereum USD and HitBTC PeerCoin 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 PeerCoin USD are associated (or correlated) with Cexio Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Ethereum USD has no effect on the direction of HitBTC PeerCoin i.e. HitBTC PeerCoin and Cexio Ethereum go up and down completely randomly.
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