Correlation Analysis Between Bitfinex Golem and HitBTC ZCoin

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

Bitfinex Golem Network  
00

Risk-Adjusted Performance

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

Bitfinex Golem Network Token U  vs.  HitBTC ZCoin USD

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
(0.00018)  0.29%
Market Cap: 276
  

HitBTC

ZCoin on HitBTC in USD

 5.51 
0.022  0.40%
Market Cap: 10.2 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  548.80  in HitBTC ZCoin USD on August 22, 2019 and sell it today you would earn a total of  1.00  from holding HitBTC ZCoin USD or generate 0.18% return on investment over 30 days.

Pair Corralation between Bitfinex Golem and HitBTC ZCoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Golem and HitBTC ZCoin

Bitfinex Golem Network Token U diversification synergy

Pay attention

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