This module allows you to analyze existing cross correlation between HitBTC Stratis USD and HitBTC ZCash USD. You can compare the effects of market volatilities on HitBTC Stratis 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 Stratis with a short position of HitBTC ZCash. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Stratis and HitBTC ZCash.
Assuming 30 trading days horizon, HitBTC Stratis USD is expected to generate 1.18 times more return on investment than HitBTC ZCash. However, HitBTC Stratis is 1.18 times more volatile than HitBTC ZCash USD. It trades about -0.02 of its potential returns per unit of risk. HitBTC ZCash USD is currently generating about -0.07 per unit of risk. If you would invest 734.00 in HitBTC Stratis USD on March 26, 2018 and sell it today you would lose (152.00) from holding HitBTC Stratis USD or give up 20.71% of portfolio value over 30 days.
Pair Corralation between HitBTC Stratis and HitBTC ZCash
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Stratis 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 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 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 Stratis i.e. HitBTC Stratis and HitBTC ZCash go up and down completely randomly.
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