Pair Correlation Between Coinbase Bitcoin and HitBTC PeerCoin

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

Coinbase Bitcoin USD  vs.  HitBTC PeerCoin USD


Bitcoin on Coinbase in USD
377.51  3.98%
Market Cap: 1187.2 B


PeerCoin on HitBTC in USD
0.32  11.55%
Market Cap: 53.9 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.88 times more return on investment than HitBTC PeerCoin. However, Coinbase Bitcoin USD is 1.14 times less risky than HitBTC PeerCoin. It trades about 0.02 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about -0.02 per unit of risk. If you would invest  955,000  in Coinbase Bitcoin USD on March 26, 2018 and sell it today you would lose (12,001)  from holding Coinbase Bitcoin USD or give up 1.26% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and HitBTC PeerCoin

Time Period2 Months [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and HitBTC PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC PeerCoin USD and Coinbase Bitcoin 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 Coinbase Bitcoin USD are associated (or correlated) with HitBTC PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC PeerCoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and HitBTC PeerCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
Coinbase Bitcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
HitBTC PeerCoin USD  

Risk-Adjusted Performance

Over the last 30 days HitBTC PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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