Pair Correlation Between HitBTC PeerCoin and Bitfinex Recovery

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

HitBTC

PeerCoin on HitBTC in USD
 5.66 
(0.41)  6.75%
Market Cap: 206.1 K

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.18 
(0.0106)  5.7%
Market Cap: 662.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to generate 1.16 times more return on investment than Bitfinex Recovery. However, HitBTC PeerCoin is 1.16 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.14 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.06 per unit of risk. If you would invest  474  in HitBTC PeerCoin USD on December 22, 2017 and sell it today you would earn a total of  120  from holding HitBTC PeerCoin USD or generate 25.32% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC PeerCoin and Bitfinex Recovery
0.01

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC PeerCoin USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

HitBTC PeerCoin USD

Pair trading matchups for HitBTC PeerCoin

Bitfinex Recovery Right

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery