Correlation Analysis Between coinfield DigiByte and P2PB2B Bancor

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

Comparative Performance

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

coinfield DigiByte and P2PB2B Bancor Volatility Contrast

coinfield DigiByte USD  vs.  P2PB2B Bancor Network Token US

coinfield

DigiByte on coinfield in USD

 0.007735 
0.00  0.00%
Market Cap: 448
  

P2PB2B

Bancor Network Token on P2PB2B in USD

 0.38 
0.00  0.00%
Market Cap: 26.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  38.01  in P2PB2B Bancor Network Token USD on August 18, 2019 and sell it today you would earn a total of  0.00  from holding P2PB2B Bancor Network Token USD or generate 0.0% return on investment over 30 days.

Pair Corralation between coinfield DigiByte and P2PB2B Bancor

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for coinfield DigiByte and P2PB2B Bancor

coinfield DigiByte USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding coinfield DigiByte USD and P2PB2B Bancor Network Token US in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on P2PB2B Bancor Network and coinfield DigiByte 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 coinfield DigiByte USD are associated (or correlated) with P2PB2B Bancor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of P2PB2B Bancor Network has no effect on the direction of coinfield DigiByte i.e. coinfield DigiByte and P2PB2B Bancor 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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