This module allows you to analyze existing cross correlation between HitBTC Verge USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on HitBTC Verge 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 Verge with a short position of Bitfinex Recovery. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Verge and Bitfinex Recovery.
HitBTC Verge USD vs. Bitfinex Recovery Right Tokens
Verge on HitBTC in USD
Market Cap: 142 K
Recovery Right Tokens on Bitfinex in USD
Market Cap: 15 K
Assuming 30 trading days horizon, HitBTC Verge USD is expected to generate 1.36 times more return on investment than Bitfinex Recovery. However, HitBTC Verge is 1.36 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.06 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.05 per unit of risk. If you would invest 6.80 in HitBTC Verge USD on March 22, 2018 and sell it today you would earn a total of 0.28 from holding HitBTC Verge USD or generate 4.18% return on investment over 30 days.
Pair Corralation between HitBTC Verge and Bitfinex Recovery
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Verge 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 Verge 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 Verge 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 Verge i.e. HitBTC Verge and Bitfinex Recovery go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
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