Correlation Analysis Between coinfield ZCash and Cexio ZCash

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

coinfield ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
Cexio ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite weak performance in the last few months, the Crypto's basic indicators remain fairly strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

coinfield ZCash and Cexio ZCash Volatility Contrast

 Predicted Return Density 
      Returns 

coinfield ZCash USD  vs.  Cexio ZCash USD

coinfield

ZCash on coinfield in USD

 50.15 
(0.75)  1.47%
Market Cap: 12 K
  

Cexio

ZCash on Cexio in USD

 50.89 
0.13  0.26%
Market Cap: 16.1 K
(0.74)
1.48% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, coinfield ZCash USD is expected to under-perform the Cexio ZCash. In addition to that, coinfield ZCash is 1.12 times more volatile than Cexio ZCash USD. It trades about -0.3 of its total potential returns per unit of risk. Cexio ZCash USD is currently generating about -0.32 per unit of volatility. If you would invest  10,874  in Cexio ZCash USD on July 26, 2019 and sell it today you would lose (5,785)  from holding Cexio ZCash USD or give up 53.2% of portfolio value over 30 days.

Pair Corralation between coinfield ZCash and Cexio ZCash

0.98
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for coinfield ZCash and Cexio ZCash

coinfield ZCash USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding coinfield ZCash USD and Cexio ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio ZCash USD and coinfield ZCash 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 coinfield ZCash USD are associated (or correlated) with Cexio ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio ZCash USD has no effect on the direction of coinfield ZCash i.e. coinfield ZCash and Cexio ZCash go up and down completely randomly.
See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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