Correlation Analysis Between Exmo Ethereum and HitBTC ZCoin

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

Exmo Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively fragile essential indicators, Exmo Ethereum unveiled solid returns over the last few months and may actually be approaching a breakup point.
HitBTC ZCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days HitBTC ZCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, HitBTC ZCoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

Exmo Ethereum and HitBTC ZCoin Volatility Contrast

Exmo Ethereum USD  vs.  HitBTC ZCoin USD

Exmo

Ethereum on Exmo in USD

 220.50 
(1.77)  0.80%
Market Cap: 126.4 M
  

HitBTC

ZCoin on HitBTC in USD

 5.37 
(0.003)  0.06%
Market Cap: 10.2 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,788  in Exmo Ethereum USD on August 21, 2019 and sell it today you would earn a total of  1,439  from holding Exmo Ethereum USD or generate 6.92% return on investment over 30 days.

Pair Corralation between Exmo Ethereum and HitBTC ZCoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Ethereum and HitBTC ZCoin

Exmo Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Ethereum USD and HitBTC ZCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ZCoin USD and Exmo Ethereum 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 Exmo Ethereum USD are associated (or correlated) with HitBTC ZCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ZCoin USD has no effect on the direction of Exmo Ethereum i.e. Exmo Ethereum and HitBTC ZCoin go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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