Pair Correlation Between CCEX BlakeCoin and CCEX GridCoin

This module allows you to analyze existing cross correlation between CCEX BlakeCoin USD and CCEX GridCoin USD. You can compare the effects of market volatilities on CCEX BlakeCoin and CCEX GridCoin 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 CCEX BlakeCoin with a short position of CCEX GridCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of CCEX BlakeCoin and CCEX GridCoin.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 CCEX BlakeCoin USD  vs   CCEX GridCoin USD

CCEX

BlakeCoin on CCEX in USD
 0.19 
0.0123  6.76%
Market Cap: 0

CCEX

GridCoin on CCEX in USD
 0.06738 
0.00038  0.57%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BlakeCoin USD is expected to generate 20.21 times more return on investment than CCEX GridCoin. However, CCEX BlakeCoin is 20.21 times more volatile than CCEX GridCoin USD. It trades about 0.18 of its potential returns per unit of risk. CCEX GridCoin USD is currently generating about 0.17 per unit of risk. If you would invest  18.88  in CCEX BlakeCoin USD on November 10, 2017 and sell it today you would earn a total of  0.55  from holding CCEX BlakeCoin USD or generate 2.91% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BlakeCoin and CCEX GridCoin
-0.03

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BlakeCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BlakeCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

CCEX GridCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX GridCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.