Pair Correlation Between HitBTC Bancor and Lykke SolarCoin

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

HitBTC

Bancor Network Token on HitBTC in USD
 3.65 
(0.08)  2.14%
Market Cap: 1.1 M

Lykke

SolarCoin on Lykke in USD
 0.46 
(0.0355)  7.11%
Market Cap: 15.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.69 times more return on investment than Lykke SolarCoin. However, HitBTC Bancor Network Token USD is 1.44 times less risky than Lykke SolarCoin. It trades about 0.37 of its potential returns per unit of risk. Lykke SolarCoin USD is currently generating about -0.01 per unit of risk. If you would invest  200  in HitBTC Bancor Network Token USD on November 14, 2017 and sell it today you would earn a total of  173  from holding HitBTC Bancor Network Token USD or generate 86.5% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Lykke SolarCoin
0.25

Parameters

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

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

Lykke SolarCoin USD

  
0 

Risk-Adjusted Performance

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