Correlation Analysis Between HitBTC ZCoin and LiveCoin PeerCoin

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

HitBTC ZCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days HitBTC ZCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, HitBTC ZCoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
LiveCoin PeerCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

HitBTC ZCoin and LiveCoin PeerCoin Volatility Contrast

HitBTC ZCoin USD  vs.  LiveCoin PeerCoin USD

HitBTC

ZCoin on HitBTC in USD

 5.50 
0.012  0.22%
Market Cap: 10.2 K
  

LiveCoin

PeerCoin on LiveCoin in USD

 0.31 
(0.0101)  3.16%
Market Cap: 5.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC ZCoin USD is expected to generate 0.06 times more return on investment than LiveCoin PeerCoin. However, HitBTC ZCoin USD is 17.33 times less risky than LiveCoin PeerCoin. It trades about 0.71 of its potential returns per unit of risk. LiveCoin PeerCoin USD is currently generating about -0.71 per unit of risk. If you would invest  548.80  in HitBTC ZCoin USD on August 22, 2019 and sell it today you would earn a total of  1.00  from holding HitBTC ZCoin USD or generate 0.18% return on investment over 30 days.

Pair Corralation between HitBTC ZCoin and LiveCoin PeerCoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for HitBTC ZCoin and LiveCoin PeerCoin

HitBTC ZCoin USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ZCoin USD and LiveCoin PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin PeerCoin USD and HitBTC ZCoin 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 ZCoin USD are associated (or correlated) with LiveCoin PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin PeerCoin USD has no effect on the direction of HitBTC ZCoin i.e. HitBTC ZCoin and LiveCoin PeerCoin go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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