This module allows you to analyze existing cross correlation between HitBTC Stratis USD and BitTrex Ethereum Classic USD. You can compare the effects of market volatilities on HitBTC Stratis and BitTrex 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 Stratis with a short position of BitTrex Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Stratis
and BitTrex Ethereum
HitBTC Stratis USD vs BitTrex Ethereum Classic USD
Assuming 30 trading days horizon, HitBTC Stratis USD is expected to generate 1.18 times more return on investment than BitTrex Ethereum. However, HitBTC Stratis is 1.18 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.18 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.1 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 572 from holding HitBTC Stratis USD or generate 55.43% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Stratis USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla 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 BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of HitBTC Stratis i.e. HitBTC Stratis and BitTrex Ethereum go up and down completely randomly.
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.
Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.