Pair Correlation Between HitBTC Emercoin and Yobit Ratecoin

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

HitBTC

Emercoin on HitBTC in USD
 8.55 
0.02  0.23%
Market Cap: 1.5 M

Yobit

Ratecoin on Yobit in USD
 0.007889 
0.001689  27.24%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Emercoin is expected to generate 1.27 times less return on investment than Yobit Ratecoin. But when comparing it to its historical volatility, HitBTC Emercoin USD is 1.11 times less risky than Yobit Ratecoin. It trades about 0.21 of its potential returns per unit of risk. Yobit Ratecoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  0.5  in Yobit Ratecoin USD on December 21, 2017 and sell it today you would earn a total of  0.29  from holding Yobit Ratecoin USD or generate 57.78% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Emercoin and Yobit Ratecoin
-0.22

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Ratecoin USD

Pair trading matchups for Yobit Ratecoin