Correlation Analysis Between coinfield ZCash and Bitfinex NEO

This module allows you to analyze existing cross correlation between coinfield ZCash USD and Bitfinex NEO USD. You can compare the effects of market volatilities on coinfield ZCash and Bitfinex NEO 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 coinfield ZCash with a short position of Bitfinex NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of coinfield ZCash and Bitfinex NEO.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

coinfield ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, coinfield ZCash is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
Bitfinex NEO USD  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex NEO is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

coinfield ZCash and Bitfinex NEO Volatility Contrast

coinfield ZCash USD  vs.  Bitfinex NEO USD

coinfield

ZCash on coinfield in USD

 49.14 
0.00  0.00%
Market Cap: 157.2 K
  

Bitfinex

NEO on Bitfinex in USD

 9.59 
0.003  0.0313%
Market Cap: 618.9 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  4,860  in coinfield ZCash USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding coinfield ZCash USD or generate 0.0% return on investment over 30 days.

Pair Corralation between coinfield ZCash and Bitfinex NEO

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for coinfield ZCash and Bitfinex NEO

coinfield ZCash USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding coinfield ZCash USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and coinfield 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 coinfield ZCash USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of coinfield ZCash i.e. coinfield ZCash and Bitfinex NEO go up and down completely randomly.
See also your portfolio center. Please also try Premium Stories module to follow macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.


 
Search macroaxis.com