Pair Correlation Between HitBTC Autumncoin and CCEX LuckChain

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

HitBTC

Autumncoin on HitBTC in USD
 0.0169 
(0.0001)  0.59%
Market Cap: 10.8 K

CCEX

LuckChain on CCEX in USD
 0.0055 
0.00218  65.66%
Market Cap: 47.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 2.71 times less return on investment than CCEX LuckChain. But when comparing it to its historical volatility, HitBTC Autumncoin USD is 1.32 times less risky than CCEX LuckChain. It trades about 0.07 of its potential returns per unit of risk. CCEX LuckChain USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  0.34  in CCEX LuckChain USD on November 16, 2017 and sell it today you would earn a total of  0.21  from holding CCEX LuckChain USD or generate 62.29% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and CCEX LuckChain
-0.06

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

CCEX LuckChain USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX LuckChain USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.