Pair Correlation Between HitBTC Bancor and Coinroom ZCoin

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


Bancor Network Token on HitBTC in USD
0.07  2.39%
Market Cap: 910 K


ZCoin on Coinroom in USD
4.80  12.62%
Market Cap: 1.8 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the Coinroom ZCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bancor Network Token USD is 3.27 times less risky than Coinroom ZCoin. The crypto trades about -0.37 of its potential returns per unit of risk. The Coinroom ZCoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  5,019  in Coinroom ZCoin USD on February 21, 2018 and sell it today you would lose (734.00)  from holding Coinroom ZCoin USD or give up 14.62% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Coinroom ZCoin


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

HitBTC Bancor Network


Risk-Adjusted Performance

Over the last 30 days HitBTC Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinroom ZCoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom ZCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.