Pair Correlation Between HitBTC NEM and HitBTC ZCash

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


NEM on HitBTC in USD
(0.33)  23.91%
Market Cap: 83.1 K


ZCash on HitBTC in USD
(113.65)  17.28%
Market Cap: 1.4 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC NEM USD is expected to generate 1.45 times more return on investment than HitBTC ZCash. However, HitBTC NEM is 1.45 times more volatile than HitBTC ZCash USD. It trades about 0.19 of its potential returns per unit of risk. HitBTC ZCash USD is currently generating about 0.0 per unit of risk. If you would invest  82.94  in HitBTC NEM USD on December 17, 2017 and sell it today you would earn a total of  55.06  from holding HitBTC NEM USD or generate 66.39% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC NEM and HitBTC ZCash


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 



Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC NEM USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.



Risk-Adjusted Performance

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