This module allows you to analyze existing cross correlation between HitBTC ZCash USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on HitBTC ZCash 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 ZCash with a short position of Bitfinex Recovery. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ZCash
and Bitfinex Recovery
HitBTC ZCash USD vs Bitfinex Recovery Right Tokens
Assuming 30 trading days horizon, HitBTC ZCash USD is expected to under-perform the Bitfinex Recovery. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC ZCash USD is 2.14 times less risky than Bitfinex Recovery. The crypto trades about -0.31 of its potential returns per unit of risk. The Bitfinex Recovery Right Tokens USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 5.57 in Bitfinex Recovery Right Tokens USD on February 21, 2018 and sell it today you would earn a total of 0.54 from holding Bitfinex Recovery Right Tokens USD or generate 9.65% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ZCash 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 ZCash 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 ZCash 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 ZCash i.e. HitBTC ZCash and Bitfinex Recovery go up and down completely randomly.
Over the last 30 days HitBTC ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.