Pair Correlation Between HitBTC Bancor and CCEX BlakeCoin

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

HitBTC

Bancor Network Token on HitBTC in USD
 2.61 
0.1  3.98%
Market Cap: 1.1 M

CCEX

BlakeCoin on CCEX in USD
 0.19 
0.0123  6.76%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 49.98 times less return on investment than CCEX BlakeCoin. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 53.45 times less risky than CCEX BlakeCoin. It trades about 0.19 of its potential returns per unit of risk. CCEX BlakeCoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  18.88  in CCEX BlakeCoin USD on November 10, 2017 and sell it today you would earn a total of  0.55  from holding CCEX BlakeCoin USD or generate 2.91% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and CCEX BlakeCoin
-0.18

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
12 

Risk-Adjusted Performance

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

CCEX BlakeCoin USD

  
11 

Risk-Adjusted Performance

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