Pair Correlation Between HitBTC Autumncoin and HitBTC PeerCoin

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

HitBTC

Autumncoin on HitBTC in USD
 0.017 
(0.0027)  13.71%
Market Cap: 10.8 K

HitBTC

PeerCoin on HitBTC in USD
 4.23 
(0.05)  1.17%
Market Cap: 59.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 5.28 times less return on investment than HitBTC PeerCoin. In addition to that, HitBTC Autumncoin is 2.84 times more volatile than HitBTC PeerCoin USD. It trades about 0.03 of its total potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.4 per unit of volatility. If you would invest  163  in HitBTC PeerCoin USD on November 15, 2017 and sell it today you would earn a total of  242  from holding HitBTC PeerCoin USD or generate 148.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and HitBTC PeerCoin
-0.07

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 HitBTC Autumncoin USD and HitBTC PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC PeerCoin 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 HitBTC PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC PeerCoin USD has no effect on the direction of HitBTC Autumncoin i.e. HitBTC Autumncoin and HitBTC PeerCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

HitBTC PeerCoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.