Correlation Analysis Between Bitfinex Golem and coinfield ZCash

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

Bitfinex Golem Network  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
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 weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.

Bitfinex Golem and coinfield ZCash Volatility Contrast

Bitfinex Golem Network Token U  vs.  coinfield ZCash USD

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
(0.000254)  0.45%
Market Cap: 276
  

coinfield

ZCash on coinfield in USD

 48.30 
(0.76)  1.55%
Market Cap: 157.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Golem Network Token USD is expected to generate 0.58 times more return on investment than coinfield ZCash. However, Bitfinex Golem Network Token USD is 1.73 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 per unit of risk. If you would invest  5.68  in Bitfinex Golem Network Token USD on August 17, 2019 and sell it today you would lose (0.03)  from holding Bitfinex Golem Network Token USD or give up 0.45% of portfolio value over 30 days.

Pair Corralation between Bitfinex Golem and coinfield ZCash

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

Diversification Opportunities for Bitfinex Golem and coinfield ZCash

Bitfinex Golem Network Token U diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Golem Network Token U 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 Bitfinex Golem 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 Bitfinex Golem Network Token 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 Bitfinex Golem i.e. Bitfinex Golem and coinfield ZCash go up and down completely randomly.
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