Correlation Analysis Between P2PB2B Bancor and coinfield DigiByte

This module allows you to analyze existing cross correlation between P2PB2B Bancor Network Token USD and coinfield DigiByte USD. You can compare the effects of market volatilities on P2PB2B Bancor 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 P2PB2B Bancor with a short position of coinfield DigiByte. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Bancor and coinfield DigiByte.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

P2PB2B Bancor Network  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Bancor Network Token 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 basic indicators remain somewhat strong which may send shares a bit higher in October 2019. The current disturbance may also be a sign of long term up-swing 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.

P2PB2B Bancor and coinfield DigiByte Volatility Contrast

P2PB2B Bancor Network Token US  vs.  coinfield DigiByte USD

P2PB2B

Bancor Network Token on P2PB2B in USD

 0.40 
(0.0133)  3.19%
Market Cap: 26.0
  

coinfield

DigiByte on coinfield in USD

 0.008047 
0.00  0.00%
Market Cap: 448
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.80  in coinfield DigiByte USD on August 21, 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 P2PB2B Bancor and coinfield DigiByte

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy33.33%
ValuesDaily Returns

Diversification Opportunities for P2PB2B Bancor and coinfield DigiByte

P2PB2B Bancor Network Token US diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B Bancor Network Token US 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 P2PB2B Bancor 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 P2PB2B Bancor Network Token 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 P2PB2B Bancor i.e. P2PB2B Bancor and coinfield DigiByte go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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