This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and CCEX BitZeny USD. You can compare the effects of market volatilities on Coinbase Bitcoin and CCEX BitZeny 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 Coinbase Bitcoin with a short position of CCEX BitZeny. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and CCEX BitZeny
Coinbase Bitcoin USD vs CCEX BitZeny USD
Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 16.31 times less return on investment than CCEX BitZeny. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 26.32 times less risky than CCEX BitZeny. It trades about 0.39 of its potential returns per unit of risk. CCEX BitZeny USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 2.57 in CCEX BitZeny USD on November 12, 2017 and sell it today you would earn a total of 40.26 from holding CCEX BitZeny USD or generate 1566.54% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and CCEX BitZeny USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX BitZeny USD and Coinbase Bitcoin 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 Coinbase Bitcoin USD are associated (or correlated) with CCEX BitZeny. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX BitZeny USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and CCEX BitZeny go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.