Pair Correlation Between HitBTC DigitalCash and Yobit GeoCoin

This module allows you to analyze existing cross correlation between HitBTC DigitalCash USD and Yobit GeoCoin USD. You can compare the effects of market volatilities on HitBTC DigitalCash and Yobit GeoCoin 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 HitBTC DigitalCash with a short position of Yobit GeoCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC DigitalCash and Yobit GeoCoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

HitBTC DigitalCash USD  vs.  Yobit GeoCoin USD

HitBTC

DigitalCash on HitBTC in USD
 453.53 
15.30  3.49%
Market Cap: 2.7 M
  

Yobit

GeoCoin on Yobit in USD
 0.07 
0.0657  48.42%
Market Cap: 54.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigitalCash USD is expected to under-perform the Yobit GeoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigitalCash USD is 5.65 times less risky than Yobit GeoCoin. The crypto trades about -0.12 of its potential returns per unit of risk. The Yobit GeoCoin USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  86.00  in Yobit GeoCoin USD on March 21, 2018 and sell it today you would lose (79.00)  from holding Yobit GeoCoin USD or give up 91.86% of portfolio value over 30 days.

Pair Corralation between HitBTC DigitalCash and Yobit GeoCoin

0.76
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.36%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigitalCash USD and Yobit GeoCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit GeoCoin USD and HitBTC DigitalCash 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 HitBTC DigitalCash USD are associated (or correlated) with Yobit GeoCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit GeoCoin USD has no effect on the direction of HitBTC DigitalCash i.e. HitBTC DigitalCash and Yobit GeoCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC DigitalCash USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit GeoCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit GeoCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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ExchangeNASDAQ
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