Pair Correlation Between CCEX CryptoCarbon and HitBTC Stratis

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

CCEX

CryptoCarbon on CCEX in USD
 0.4 
(0.0081)  1.98%
Market Cap: 17.0

HitBTC

Stratis on HitBTC in USD
 9.89 
(0.75)  7.05%
Market Cap: 270 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX CryptoCarbon USD is expected to generate 7.09 times more return on investment than HitBTC Stratis. However, CCEX CryptoCarbon is 7.09 times more volatile than HitBTC Stratis USD. It trades about 0.18 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.4 per unit of risk. If you would invest  15  in CCEX CryptoCarbon USD on November 12, 2017 and sell it today you would earn a total of  21.56  from holding CCEX CryptoCarbon USD or generate 143.73% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX CryptoCarbon and HitBTC Stratis
0.82

Parameters

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

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX CryptoCarbon USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX CryptoCarbon USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.