Correlation Analysis Between Coinbase Augur and HitBTC ZCoin

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

Coinbase Augur USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinbase Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Coinbase Augur is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the management.
HitBTC ZCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days HitBTC ZCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, HitBTC ZCoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Coinbase Augur and HitBTC ZCoin Volatility Contrast

Coinbase Augur USD  vs.  HitBTC ZCoin USD

Coinbase

Augur on Coinbase in USD

 10.47 
0.00  0.00%
Market Cap: 1.5 M
  

HitBTC

ZCoin on HitBTC in USD

 5.39 
0.001  0.0186%
Market Cap: 10.2 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  534.60  in HitBTC ZCoin USD on August 16, 2019 and sell it today you would earn a total of  0.00  from holding HitBTC ZCoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Coinbase Augur and HitBTC ZCoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinbase Augur and HitBTC ZCoin

Coinbase Augur USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Augur USD and HitBTC ZCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ZCoin USD and Coinbase Augur 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 Coinbase Augur USD are associated (or correlated) with HitBTC ZCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ZCoin USD has no effect on the direction of Coinbase Augur i.e. Coinbase Augur and HitBTC ZCoin go up and down completely randomly.
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