Correlation Analysis Between HitBTC ZCoin and coinfield DigiByte

This module allows you to analyze existing cross correlation between HitBTC ZCoin USD and coinfield DigiByte USD. You can compare the effects of market volatilities on HitBTC ZCoin and coinfield DigiByte 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 coinfield DigiByte. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ZCoin and coinfield DigiByte.
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.
coinfield DigiByte USD  
00

Risk-Adjusted Performance

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

HitBTC ZCoin and coinfield DigiByte Volatility Contrast

HitBTC ZCoin USD  vs.  coinfield DigiByte USD

HitBTC

ZCoin on HitBTC in USD

 5.11 
0.005  0.1%
Market Cap: 10.2 K
  

coinfield

DigiByte on coinfield in USD

 0.007732 
0.00  0.00%
Market Cap: 448
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in coinfield DigiByte USD on August 17, 2019 and sell it today you would earn a total of  100.00  from holding coinfield DigiByte USD or generate -100.0% return on investment over 30 days.

Pair Corralation between HitBTC ZCoin and coinfield DigiByte

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

Diversification Opportunities for HitBTC ZCoin and coinfield DigiByte

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 coinfield DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield DigiByte 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 coinfield DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield DigiByte USD has no effect on the direction of HitBTC ZCoin i.e. HitBTC ZCoin and coinfield DigiByte go up and down completely randomly.
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