Pair Correlation Between HitBTC ByteCoin and CCEX TrumpCoin

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

HitBTC

ByteCoin on HitBTC in USD
 0.002837 
(0.000012)  0.42%
Market Cap: 456.4 K

CCEX

TrumpCoin on CCEX in USD
 0.069 
0.00  0.00%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.13  in HitBTC ByteCoin USD on November 15, 2017 and sell it today you would earn a total of  0.16  from holding HitBTC ByteCoin USD or generate 125.52% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC ByteCoin and CCEX TrumpCoin
0.49

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy3.23%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC ByteCoin USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.

CCEX TrumpCoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days CCEX TrumpCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.