Correlation Analysis Between coinfield ZCash and HitBTC ZCoin

This module allows you to analyze existing cross correlation between coinfield ZCash USD and HitBTC ZCoin USD. You can compare the effects of market volatilities on coinfield ZCash 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 coinfield ZCash with a short position of HitBTC ZCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of coinfield ZCash and HitBTC ZCoin.
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 current stock price tumult, may contribute to shorter-term losses for the shareholders.
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.

coinfield ZCash and HitBTC ZCoin Volatility Contrast

coinfield ZCash USD  vs.  HitBTC ZCoin USD

coinfield

ZCash on coinfield in USD

 46.77 
0.00  0.00%
Market Cap: 157.2 K
  

HitBTC

ZCoin on HitBTC in USD

 5.35 
0.004  0.07%
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 coinfield ZCash and HitBTC ZCoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for coinfield ZCash and HitBTC ZCoin

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 HitBTC ZCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ZCoin 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 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 coinfield ZCash i.e. coinfield ZCash and HitBTC ZCoin go up and down completely randomly.
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.


 
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