Pair Correlation Between HitBTC BitConnect and CCEX HiCoin

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

HitBTC

BitConnect Coin on HitBTC in USD
 345 
(0.9)  0.26%
Market Cap: 9.9 M

CCEX

HiCoin on CCEX in USD
 0.008669 
0.003047  54.2%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 6.87066953835687E12 times more return on investment than CCEX HiCoin. However, HitBTC BitConnect is 6.87066953835687E12 times more volatile than CCEX HiCoin USD. It trades about 0.18 of its potential returns per unit of risk. CCEX HiCoin USD is currently generating about 0.23 per unit of risk. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 12, 2017 and sell it today you would earn a total of  34,500  from holding HitBTC BitConnect Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC BitConnect and CCEX HiCoin
0.43

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC BitConnect Coin

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

HitBTC BitConnect Coin USD

Pair trading matchups for HitBTC BitConnect

CCEX HiCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX HiCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.