This module allows you to analyze existing cross correlation between CCEX CryptoCarbon USD and Bitfinex NEO USD. You can compare the effects of market volatilities on CCEX CryptoCarbon and Bitfinex NEO 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 CryptoCarbon with a short position of Bitfinex NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of CCEX CryptoCarbon
and Bitfinex NEO
CCEX CryptoCarbon USD vs Bitfinex NEO USD
Assuming 30 trading days horizon, CCEX CryptoCarbon USD is expected to generate 0.72 times more return on investment than Bitfinex NEO. However, CCEX CryptoCarbon USD is 1.39 times less risky than Bitfinex NEO. It trades about -0.01 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about -0.28 per unit of risk. If you would invest 22.98 in CCEX CryptoCarbon USD on February 15, 2018 and sell it today you would lose (0.95) from holding CCEX CryptoCarbon USD or give up 4.13% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding CCEX CryptoCarbon USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and CCEX CryptoCarbon 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 CryptoCarbon USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of CCEX CryptoCarbon i.e. CCEX CryptoCarbon and Bitfinex NEO go up and down completely randomly.
Over the last 30 days CCEX CryptoCarbon USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Bitfinex NEO USD has generated negative risk-adjusted returns adding no value to investors with long positions.