Correlation Analysis Between CCEX Dogecoin and Coinroom ZCoin

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

CCEX Dogecoin USD  vs.  Coinroom ZCoin USD

CCEX

Dogecoin on CCEX in USD
 0.00275 
0.0001  3.77%
Market Cap: 327
  

Coinroom

ZCoin on Coinroom in USD
 20.03 
1.48  6.88%
Market Cap: 382.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to generate 0.81 times more return on investment than Coinroom ZCoin. However, CCEX Dogecoin USD is 1.24 times less risky than Coinroom ZCoin. It trades about -0.12 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.16 per unit of risk. If you would invest  0.39  in CCEX Dogecoin USD on May 21, 2018 and sell it today you would lose (0.11)  from holding CCEX Dogecoin USD or give up 28.21% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and Coinroom ZCoin

0.9
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX Dogecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days CCEX Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinroom ZCoin USD  
0 

Risk-Adjusted Performance

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

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