This module allows you to analyze existing cross correlation between HitBTC NEM USD and HitBTC Autumncoin USD. You can compare the effects of market volatilities on HitBTC NEM and HitBTC Autumncoin 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 NEM with a short position of HitBTC Autumncoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC NEM
and HitBTC Autumncoin
HitBTC NEM USD vs HitBTC Autumncoin USD
Assuming 30 trading days horizon, HitBTC NEM is expected to generate 1.76 times less return on investment than HitBTC Autumncoin. But when comparing it to its historical volatility, HitBTC NEM USD is 2.39 times less risky than HitBTC Autumncoin. It trades about 0.19 of its potential returns per unit of risk. HitBTC Autumncoin USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 2.21 in HitBTC Autumncoin USD on December 17, 2017 and sell it today you would earn a total of 1 from holding HitBTC Autumncoin USD or generate 45.25% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC NEM USD and HitBTC Autumncoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Autumncoin USD and HitBTC NEM 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 NEM USD are associated (or correlated) with HitBTC Autumncoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Autumncoin USD has no effect on the direction of HitBTC NEM i.e. HitBTC NEM and HitBTC Autumncoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC NEM USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.