Correlation Analysis Between P2PB2B Waves and coinfield ZCash

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

Comparative Performance

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 somewhat strong basic indicators, P2PB2B Waves is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
coinfield ZCash USD  
00

Risk-Adjusted Performance

Over the last 30 days coinfield ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather fragile fundamental drivers, coinfield ZCash may actually be approaching a critical reversion point that can send shares even higher in October 2019.

P2PB2B Waves and coinfield ZCash Volatility Contrast

P2PB2B Waves USD  vs.  coinfield ZCash USD

P2PB2B

Waves on P2PB2B in USD

 1.06 
0.005  0.47%
Market Cap: 60.8 K
  

coinfield

ZCash on coinfield in USD

 48.13 
(0.42)  0.87%
Market Cap: 157.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, P2PB2B Waves is expected to generate 2.61 times less return on investment than coinfield ZCash. But when comparing it to its historical volatility, P2PB2B Waves USD is 2.61 times less risky than coinfield ZCash. It trades about 0.71 of its potential returns per unit of risk. coinfield ZCash USD is currently generating about 0.71 of returns per unit of risk over similar time horizon. If you would invest  4,855  in coinfield ZCash USD on August 22, 2019 and sell it today you would earn a total of  12.00  from holding coinfield ZCash USD or generate 0.25% return on investment over 30 days.

Pair Corralation between P2PB2B Waves and coinfield ZCash

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

Diversification Opportunities for P2PB2B Waves and coinfield ZCash

P2PB2B Waves USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding P2PB2B Waves USD and coinfield ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on coinfield ZCash USD and P2PB2B Waves 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 Waves USD are associated (or correlated) with coinfield ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of coinfield ZCash USD has no effect on the direction of P2PB2B Waves i.e. P2PB2B Waves and coinfield ZCash go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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