Pair Correlation Between HitBTC PeerCoin and Yobit ClubCoin |
This module allows you to analyze existing cross correlation between HitBTC PeerCoin USD and Yobit ClubCoin USD. You can compare the effects of market volatilities on HitBTC PeerCoin and Yobit ClubCoin 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 PeerCoin with a short position of Yobit ClubCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC PeerCoin and Yobit ClubCoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
HitBTC PeerCoin USD vs. Yobit ClubCoin USD
HitBTCPeerCoin on HitBTC in USD 2.42
| Yobit ClubCoin on Yobit in USD 0.47
|
Pair Volatility
Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to under-perform the Yobit ClubCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC PeerCoin USD is 23.59 times less risky than Yobit ClubCoin. The crypto trades about -0.05 of its potential returns per unit of risk. The Yobit ClubCoin USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 163.00 in Yobit ClubCoin USD on March 27, 2018 and sell it today you would lose (116.23) from holding Yobit ClubCoin USD or give up 71.31% of portfolio value over 30 days.
Pair Corralation between HitBTC PeerCoin and Yobit ClubCoin
-0.54
| Time Period | 2 Months [change] |
| Direction | Negative |
| Strength | Very Weak |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Excellent diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC PeerCoin USD and Yobit ClubCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit ClubCoin USD and HitBTC PeerCoin 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 PeerCoin USD are associated (or correlated) with Yobit ClubCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit ClubCoin USD has no effect on the direction of HitBTC PeerCoin i.e. HitBTC PeerCoin and Yobit ClubCoin go up and down completely randomly.
Comparative Volatility
| HitBTC PeerCoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days HitBTC PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC PeerCoin USD
Pair trading matchups for HitBTC PeerCoin
| Yobit ClubCoin USD |
7 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Yobit ClubCoin USD
Pair trading matchups for Yobit ClubCoin
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See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.