Correlation Analysis Between Exmo ZCash and coinfield ZCash

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

Comparative Performance

Exmo ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo 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.
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.

Exmo ZCash and coinfield ZCash Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo ZCash USD  vs.  coinfield ZCash USD

Exmo

ZCash on Exmo in USD

 50.85 
0.08  0.16%
Market Cap: 3 M
  

coinfield

ZCash on coinfield in USD

 49.58 
0.38  0.77%
Market Cap: 221.8 K
 1.27 
2.50% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo ZCash USD is expected to generate 0.93 times more return on investment than coinfield ZCash. However, Exmo ZCash USD is 1.08 times less risky than coinfield ZCash. It trades about -0.26 of its potential returns per unit of risk. coinfield ZCash USD is currently generating about -0.27 per unit of risk. If you would invest  10,220  in Exmo ZCash USD on July 22, 2019 and sell it today you would lose (5,143)  from holding Exmo ZCash USD or give up 50.32% of portfolio value over 30 days.

Pair Corralation between Exmo ZCash and coinfield ZCash

0.96
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Exmo ZCash and coinfield ZCash

Exmo ZCash USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo ZCash USD and coinfield ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield ZCash USD and Exmo 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 Exmo ZCash USD are associated (or correlated) with coinfield ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield ZCash USD has no effect on the direction of Exmo ZCash i.e. Exmo ZCash and coinfield ZCash go up and down completely randomly.
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
Search macroaxis.com