Pair Correlation Between Gatecoin Litecoin and HitBTC ZCash

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

Gatecoin

Litecoin on Gatecoin in USD
 222.22 
(27.78)  11.11%
Market Cap: 1.5 M

HitBTC

ZCash on HitBTC in USD
 468.17 
(25.65)  5.19%
Market Cap: 1.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Litecoin USD is expected to under-perform the HitBTC ZCash. In addition to that, Gatecoin Litecoin is 1.72 times more volatile than HitBTC ZCash USD. It trades about -0.02 of its total potential returns per unit of risk. HitBTC ZCash USD is currently generating about -0.01 per unit of volatility. If you would invest  57,748  in HitBTC ZCash USD on December 18, 2017 and sell it today you would lose (8,366)  from holding HitBTC ZCash USD or give up 14.49% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Litecoin and HitBTC ZCash
-0.17

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Gatecoin Litecoin USD

  
0 

Risk-Adjusted Performance

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

HitBTC ZCash USD

  
0 

Risk-Adjusted Performance

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