Pair Correlation Between HitBTC Stratis and Cexio Ethereum

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

HitBTC Stratis USD  vs.  Cexio Ethereum USD

HitBTC

Stratis on HitBTC in USD
 5.84 
0.12  2.01%
Market Cap: 15.2 K
  

Cexio

Ethereum on Cexio in USD
 601.26 
1.26  0.21%
Market Cap: 754.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Stratis USD is expected to generate 1.33 times more return on investment than Cexio Ethereum. However, HitBTC Stratis is 1.33 times more volatile than Cexio Ethereum USD. It trades about -0.06 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.09 per unit of risk. If you would invest  831.00  in HitBTC Stratis USD on March 22, 2018 and sell it today you would lose (247.00)  from holding HitBTC Stratis USD or give up 29.72% of portfolio value over 30 days.

Pair Corralation between HitBTC Stratis and Cexio Ethereum

0.79
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Stratis 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 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 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 Stratis i.e. HitBTC Stratis and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Stratis USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.