Pair Correlation Between HitBTC Bancor and HitBTC PeerCoin

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

HitBTC

Bancor Network Token on HitBTC in USD
 3.67 
(0.03)  0.81%
Market Cap: 1.1 M

HitBTC

PeerCoin on HitBTC in USD
 4.16 
(0.12)  2.8%
Market Cap: 59.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 1.44 times less return on investment than HitBTC PeerCoin. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 1.41 times less risky than HitBTC PeerCoin. It trades about 0.39 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.4 of returns per unit of risk over similar time horizon. If you would invest  163  in HitBTC PeerCoin USD on November 15, 2017 and sell it today you would earn a total of  242  from holding HitBTC PeerCoin USD or generate 148.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and HitBTC PeerCoin
0.39

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US 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 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 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 Bancor i.e. HitBTC Bancor and HitBTC PeerCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
25 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.

HitBTC PeerCoin USD

  
26 

Risk-Adjusted Performance

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