Pair Correlation Between HitBTC Stratis and Bitfinex Recovery

This module allows you to analyze existing cross correlation between HitBTC Stratis USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on HitBTC Stratis and Bitfinex Recovery 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 Stratis with a short position of Bitfinex Recovery. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Stratis and Bitfinex Recovery.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 HitBTC Stratis USD  vs   Bitfinex Recovery Right Tokens

HitBTC

Stratis on HitBTC in USD
 15.69 
0.46  3.02%
Market Cap: 14 M

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.15 
0.0091  6.64%
Market Cap: 662.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Stratis USD is expected to generate 1.3 times more return on investment than Bitfinex Recovery. However, HitBTC Stratis is 1.3 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.17 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.11 per unit of risk. If you would invest  1,032  in HitBTC Stratis USD on December 21, 2017 and sell it today you would earn a total of  491  from holding HitBTC Stratis USD or generate 47.58% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Stratis and Bitfinex Recovery
0.32

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Stratis USD and Bitfinex Recovery Right Tokens in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Recovery Right and HitBTC Stratis 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 Stratis USD are associated (or correlated) with Bitfinex Recovery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Recovery Right has no effect on the direction of HitBTC Stratis i.e. HitBTC Stratis and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Stratis USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis

Bitfinex Recovery Right

  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery