Correlation Analysis Between OKCoin Bitcoin and coinfield DigiByte

This module allows you to analyze existing cross correlation between OKCoin Bitcoin USD and coinfield DigiByte USD. You can compare the effects of market volatilities on OKCoin Bitcoin and coinfield DigiByte 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 OKCoin Bitcoin with a short position of coinfield DigiByte. See also your portfolio center. Please also check ongoing floating volatility patterns of OKCoin Bitcoin and coinfield DigiByte.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

OKCoin Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
coinfield DigiByte USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield DigiByte USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, coinfield DigiByte is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.

OKCoin Bitcoin and coinfield DigiByte Volatility Contrast

OKCoin Bitcoin USD  vs.  coinfield DigiByte USD

OKCoin

Bitcoin on OKCoin in USD

 10,006 
(93.86)  0.93%
Market Cap: 29.2 B
  

coinfield

DigiByte on coinfield in USD

 0.008231 
0.00  0.00%
Market Cap: 448
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.82  in coinfield DigiByte USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding coinfield DigiByte USD or generate 0.0% return on investment over 30 days.

Pair Corralation between OKCoin Bitcoin and coinfield DigiByte

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and coinfield DigiByte

OKCoin Bitcoin USD diversification synergy

Pay attention

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