Pair Correlation Between HitBTC BitConnect and HitBTC PeerCoin

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

HitBTC

BitConnect Coin on HitBTC in USD
 345 
(9.9)  2.79%
Market Cap: 9.9 M

HitBTC

PeerCoin on HitBTC in USD
 3.52 
(0.96)  21.43%
Market Cap: 59.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 1.877982825849329E13 times more return on investment than HitBTC PeerCoin. However, HitBTC BitConnect is 1.877982825849329E13 times more volatile than HitBTC PeerCoin USD. It trades about 0.18 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.46 per unit of risk. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 14, 2017 and sell it today you would earn a total of  35,490  from holding HitBTC BitConnect Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC BitConnect and HitBTC PeerCoin
0.46

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 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 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 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 BitConnect i.e. HitBTC BitConnect and HitBTC PeerCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC BitConnect Coin

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

HitBTC PeerCoin USD

  
30 

Risk-Adjusted Performance

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