This module allows you to analyze existing cross correlation between HitBTC Verge USD and HitBTC ZCash USD. You can compare the effects of market volatilities on HitBTC Verge 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 Verge with a short position of HitBTC ZCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Verge
and HitBTC ZCash
HitBTC Verge USD vs HitBTC ZCash USD
Assuming 30 trading days horizon, HitBTC Verge USD is expected to under-perform the HitBTC ZCash. In addition to that, HitBTC Verge is 1.38 times more volatile than HitBTC ZCash USD. It trades about -0.28 of its total potential returns per unit of risk. HitBTC ZCash USD is currently generating about -0.3 per unit of volatility. If you would invest 43,936 in HitBTC ZCash USD on February 20, 2018 and sell it today you would lose (18,317) from holding HitBTC ZCash USD or give up 41.69% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Verge 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 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 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 Verge i.e. HitBTC Verge and HitBTC ZCash go up and down completely randomly.
Over the last 30 days HitBTC Verge USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.