Pair Correlation Between HitBTC Autumncoin and Kraken ZCash

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

HitBTC

Autumncoin on HitBTC in USD
 0.0153 
(0.0023)  13.07%
Market Cap: 10.8 K

Kraken

ZCash on Kraken in USD
 407.65 
46.18  12.78%
Market Cap: 145.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 1.14 times less return on investment than Kraken ZCash. In addition to that, HitBTC Autumncoin is 4.43 times more volatile than Kraken ZCash USD. It trades about 0.05 of its total potential returns per unit of risk. Kraken ZCash USD is currently generating about 0.27 per unit of volatility. If you would invest  27,400  in Kraken ZCash USD on November 14, 2017 and sell it today you would earn a total of  13,365  from holding Kraken ZCash USD or generate 48.78% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and Kraken ZCash
-0.14

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Kraken ZCash USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken ZCash USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.