Correlation Analysis Between CCEX CryptoCarbon and CCEX Asiadigicoin

This module allows you to analyze existing cross correlation between CCEX CryptoCarbon USD and CCEX Asiadigicoin USD. You can compare the effects of market volatilities on CCEX CryptoCarbon and CCEX Asiadigicoin 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 CCEX Asiadigicoin. See also your portfolio center. Please also check ongoing floating volatility patterns of CCEX CryptoCarbon and CCEX Asiadigicoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

CCEX CryptoCarbon USD  vs.  CCEX Asiadigicoin USD

CCEX

CryptoCarbon on CCEX in USD
 0.07 
0.01785  36.60%
Market Cap: 17.0
  

CCEX

Asiadigicoin on CCEX in USD
 0.001187 
0.000111  8.55%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX CryptoCarbon USD is expected to generate 1.78 times more return on investment than CCEX Asiadigicoin. However, CCEX CryptoCarbon is 1.78 times more volatile than CCEX Asiadigicoin USD. It trades about 0.05 of its potential returns per unit of risk. CCEX Asiadigicoin USD is currently generating about -0.13 per unit of risk. If you would invest  11.00  in CCEX CryptoCarbon USD on May 21, 2018 and sell it today you would lose (4.34)  from holding CCEX CryptoCarbon USD or give up 39.44% of portfolio value over 30 days.

Pair Corralation between CCEX CryptoCarbon and CCEX Asiadigicoin

0.5
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX CryptoCarbon USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX CryptoCarbon USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
CCEX Asiadigicoin USD  
0 

Risk-Adjusted Performance

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

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