Correlation Analysis Between Exmo NEM and P2PB2B Waves

This module allows you to analyze existing cross correlation between Exmo NEM USD and P2PB2B Waves USD. You can compare the effects of market volatilities on Exmo NEM and P2PB2B Waves 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 Exmo NEM with a short position of P2PB2B Waves. See also your portfolio center. Please also check ongoing floating volatility patterns of Exmo NEM and P2PB2B Waves.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Exmo NEM USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Exmo NEM is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
P2PB2B Waves USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Waves USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, P2PB2B Waves is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Exmo NEM and P2PB2B Waves Volatility Contrast

Exmo NEM USD  vs.  P2PB2B Waves USD

Exmo

NEM on Exmo in USD

 0.04701 
0.00  0.00%
Market Cap: 7.6 K
  

P2PB2B

Waves on P2PB2B in USD

 1.06 
0.005  0.47%
Market Cap: 60.8 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in P2PB2B Waves USD on August 21, 2019 and sell it today you would earn a total of  100.00  from holding P2PB2B Waves USD or generate -100.0% return on investment over 30 days.

Pair Corralation between Exmo NEM and P2PB2B Waves

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

Diversification Opportunities for Exmo NEM and P2PB2B Waves

Exmo NEM USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo NEM USD and P2PB2B Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Waves USD and Exmo NEM 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 Exmo NEM USD are associated (or correlated) with P2PB2B Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Waves USD has no effect on the direction of Exmo NEM i.e. Exmo NEM and P2PB2B Waves go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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