Pair Correlation Between HitBTC Bancor and HitBTC MaidSafe

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

HitBTC

Bancor Network Token on HitBTC in USD
 4.01 
0.08  2.04%
Market Cap: 1.9 M

HitBTC

MaidSafe Coin on HitBTC in USD
 0.64 
0.023827  3.85%
Market Cap: 24.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.67 times more return on investment than HitBTC MaidSafe. However, HitBTC Bancor Network Token USD is 1.5 times less risky than HitBTC MaidSafe. It trades about 0.4 of its potential returns per unit of risk. HitBTC MaidSafe Coin USD is currently generating about 0.22 per unit of risk. If you would invest  202  in HitBTC Bancor Network Token USD on November 18, 2017 and sell it today you would earn a total of  199  from holding HitBTC Bancor Network Token USD or generate 98.51% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and HitBTC MaidSafe
-0.02

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.

HitBTC MaidSafe Coin

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC MaidSafe Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.