Correlation Analysis Between HitBTC ZCoin and OKCoin Bitcoin

This module allows you to analyze existing cross correlation between HitBTC ZCoin USD and OKCoin Bitcoin USD. You can compare the effects of market volatilities on HitBTC ZCoin and OKCoin Bitcoin 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 OKCoin Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ZCoin and OKCoin Bitcoin.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

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.
OKCoin Bitcoin USD  
00

Risk-Adjusted Performance

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

HitBTC ZCoin and OKCoin Bitcoin Volatility Contrast

HitBTC ZCoin USD  vs.  OKCoin Bitcoin USD

HitBTC

ZCoin on HitBTC in USD

 5.49 
0.002  0.0364%
Market Cap: 10.2 K
  

OKCoin

Bitcoin on OKCoin in USD

 10,153 
0.00  0.00%
Market Cap: 29.2 B
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,016,205  in OKCoin Bitcoin USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding OKCoin Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between HitBTC ZCoin and OKCoin Bitcoin

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

Diversification Opportunities for HitBTC ZCoin and OKCoin Bitcoin

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 OKCoin Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin Bitcoin 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 OKCoin Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Bitcoin USD has no effect on the direction of HitBTC ZCoin i.e. HitBTC ZCoin and OKCoin Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.


 
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