Pair Correlation Between HitBTC Verge and Coinbase Bitcoin |
This module allows you to analyze existing cross correlation between HitBTC Verge USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on HitBTC Verge and Coinbase Bitcoin 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 Coinbase Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Verge and Coinbase Bitcoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
HitBTC Verge USD vs. Coinbase Bitcoin USD
HitBTCVerge on HitBTC in USD 0.07379
| CoinbaseBitcoin on Coinbase in USD 8,520
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC Verge USD is expected to generate 2.52 times more return on investment than Coinbase Bitcoin. However, HitBTC Verge is 2.52 times more volatile than Coinbase Bitcoin USD. It trades about 0.05 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.09 per unit of risk. If you would invest 7.59 in HitBTC Verge USD on March 21, 2018 and sell it today you would lose (0.19) from holding HitBTC Verge USD or give up 2.54% of portfolio value over 30 days.
Pair Corralation between HitBTC Verge and Coinbase Bitcoin
-0.35
| Time Period | 2 Months [change] |
| Direction | Negative |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Verge USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD 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 Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of HitBTC Verge i.e. HitBTC Verge and Coinbase Bitcoin go up and down completely randomly.
Comparative Volatility
| HitBTC Verge USD |
3 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
HitBTC Verge USD
Pair trading matchups for HitBTC Verge
| Coinbase Bitcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinbase Bitcoin USD
Pair trading matchups for Coinbase Bitcoin
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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.