Pair Correlation Between HitBTC Emercoin and Yobit Moneta

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

HitBTC

Emercoin on HitBTC in USD
 7.05 
1.4  24.78%
Market Cap: 1.5 M

Yobit

Moneta on Yobit in USD
 0.0029 
0.0023  383.33%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Emercoin is expected to generate 1.07 times less return on investment than Yobit Moneta. In addition to that, HitBTC Emercoin is 1.39 times more volatile than Yobit Moneta USD. It trades about 0.2 of its total potential returns per unit of risk. Yobit Moneta USD is currently generating about 0.3 per unit of volatility. If you would invest  0.09  in Yobit Moneta USD on December 19, 2017 and sell it today you would earn a total of  0.2  from holding Yobit Moneta USD or generate 227.68% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Emercoin and Yobit Moneta
0.77

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Emercoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Emercoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

HitBTC Emercoin USD

Pair trading matchups for HitBTC Emercoin

Yobit Moneta USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Moneta USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit Moneta USD

Pair trading matchups for Yobit Moneta