Pair Correlation Between HitBTC PeerCoin and Cexio Ethereum

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

HitBTC

PeerCoin on HitBTC in USD
 5.9 
0.28  4.98%
Market Cap: 206.1 K

Cexio

Ethereum on Cexio in USD
 1,182 
42.11  3.7%
Market Cap: 7.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to generate 1.56 times more return on investment than Cexio Ethereum. However, HitBTC PeerCoin is 1.56 times more volatile than Cexio Ethereum USD. It trades about 0.15 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.15 per unit of risk. If you would invest  455  in HitBTC PeerCoin USD on December 21, 2017 and sell it today you would earn a total of  142  from holding HitBTC PeerCoin USD or generate 31.21% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC PeerCoin and Cexio Ethereum
0.87

Parameters

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

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC PeerCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

HitBTC PeerCoin USD

Pair trading matchups for HitBTC PeerCoin

Cexio Ethereum USD

  
9 

Risk-Adjusted Performance

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

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum