Pair Correlation Between HitBTC ZCash and Cexio Ethereum

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


ZCash on HitBTC in USD
(2.14)  0.45%
Market Cap: 1.4 B


Ethereum on Cexio in USD
11.93  1.07%
Market Cap: 7.8 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC ZCash is expected to generate 16.16 times less return on investment than Cexio Ethereum. But when comparing it to its historical volatility, HitBTC ZCash USD is 1.14 times less risky than Cexio Ethereum. It trades about 0.01 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  84,632  in Cexio Ethereum USD on December 22, 2017 and sell it today you would earn a total of  27,048  from holding Cexio Ethereum USD or generate 31.96% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC ZCash and Cexio Ethereum


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ZCash 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 ZCash 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 ZCash 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 ZCash i.e. HitBTC ZCash and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 



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.


Pair trading matchups for HitBTC ZCash

Cexio Ethereum USD


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