Correlation Analysis Between HitBTC Ethereum and Yobit Ethereum

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

Comparative Performance

HitBTC Ethereum USD  
0

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

HitBTC Ethereum and Yobit Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

HitBTC Ethereum USD  vs.  Yobit Ethereum USD

HitBTC

Ethereum on HitBTC in USD

 81.88 
0.00  0.00%
Market Cap: 23.4 K
  

Yobit

Ethereum on Yobit in USD

 90.50 
(0.75)  0.82%
Market Cap: 1 M
(8.62)
10.53% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  8,188  in HitBTC Ethereum USD on November 16, 2018 and sell it today you would earn a total of  0.00  from holding HitBTC Ethereum USD or generate 0.0% return on investment over 30 days.

Pair Corralation between HitBTC Ethereum and Yobit Ethereum

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy2.22%
ValuesDaily Returns

Diversification Opportunities for HitBTC Ethereum and Yobit Ethereum

HitBTC Ethereum USD diversification synergy

Very poor diversification

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

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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