Correlation Analysis Between P2PB2B Bancor and P2PB2B Waves

This module allows you to analyze existing cross correlation between P2PB2B Bancor Network Token USD and P2PB2B Waves USD. You can compare the effects of market volatilities on P2PB2B Bancor and P2PB2B Waves 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 P2PB2B Waves. See also your portfolio center. Please also check ongoing floating volatility patterns of P2PB2B Bancor and P2PB2B Waves.
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.
P2PB2B Waves USD  
00

Risk-Adjusted Performance

Over the last 30 days P2PB2B Waves 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.

P2PB2B Bancor and P2PB2B Waves Volatility Contrast

P2PB2B Bancor Network Token US  vs.  P2PB2B Waves USD

P2PB2B

Bancor Network Token on P2PB2B in USD

 0.42 
0.00  0.00%
Market Cap: 26.0
  

P2PB2B

Waves on P2PB2B in USD

 1.06 
(0.016)  1.49%
Market Cap: 60.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Bancor Network Token USD is expected to generate 1.11 times more return on investment than P2PB2B Waves. However, P2PB2B Bancor is 1.11 times more volatile than P2PB2B Waves USD. It trades about -0.58 of its potential returns per unit of risk. P2PB2B Waves USD is currently generating about -0.71 per unit of risk. If you would invest  41.64  in P2PB2B Bancor Network Token USD on August 21, 2019 and sell it today you would lose (1.33)  from holding P2PB2B Bancor Network Token USD or give up 3.19% of portfolio value over 30 days.

Pair Corralation between P2PB2B Bancor and P2PB2B Waves

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy66.67%
ValuesDaily Returns

Diversification Opportunities for P2PB2B Bancor and P2PB2B Waves

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 P2PB2B Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Waves 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 P2PB2B Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Waves USD has no effect on the direction of P2PB2B Bancor i.e. P2PB2B Bancor and P2PB2B Waves go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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