Pair Correlation Between HitBTC Verge and BitTrex Ethereum

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

HitBTC

Verge on HitBTC in USD
 0.075 
0.0125  20%
Market Cap: 413 K

BitTrex

Ethereum Classic on BitTrex in USD
 25.1 
0.1  0.4%
Market Cap: 88.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge USD is expected to generate 2.29 times more return on investment than BitTrex Ethereum. However, HitBTC Verge is 2.29 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.1 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.07 per unit of risk. If you would invest  8.1  in HitBTC Verge USD on December 18, 2017 and sell it today you would lose (0.51)  from holding HitBTC Verge USD or give up 6.33% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Verge and BitTrex Ethereum
0.09

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Verge USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

HitBTC Verge USD

Pair trading matchups for HitBTC Verge

BitTrex Ethereum Cla

  
0 

Risk-Adjusted Performance

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

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum