Correlation Analysis Between HitBTC ZCoin and Bitfinex NEO

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

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 prevalent stock price disturbance, may contribute to short term losses for the investors.
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.

HitBTC ZCoin and Bitfinex NEO Volatility Contrast

HitBTC ZCoin USD  vs.  Bitfinex NEO USD

HitBTC

ZCoin on HitBTC in USD

 5.49 
0.002  0.0364%
Market Cap: 10.2 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 (100.00)  in HitBTC ZCoin USD on August 21, 2019 and sell it today you would earn a total of  100.00  from holding HitBTC ZCoin USD or generate -100.0% return on investment over 30 days.

Pair Corralation between HitBTC ZCoin and Bitfinex NEO

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

Diversification Opportunities for HitBTC ZCoin and Bitfinex NEO

HitBTC ZCoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ZCoin 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 HitBTC ZCoin 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 ZCoin 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 HitBTC ZCoin i.e. HitBTC ZCoin and Bitfinex NEO go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.


 
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