Pair Correlation Between HitBTC PeerCoin and Yobit Cerium

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

HitBTC PeerCoin USD  vs.  Yobit Cerium USD

HitBTC

PeerCoin on HitBTC in USD
 2.71 
0.06  2.17%
Market Cap: 53.9 K
  

Yobit

Cerium on Yobit in USD
 0.007938 
0.005842  42.39%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to under-perform the Yobit Cerium. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC PeerCoin USD is 5.15 times less risky than Yobit Cerium. The crypto trades about -0.02 of its potential returns per unit of risk. The Yobit Cerium USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  5.00  in Yobit Cerium USD on March 26, 2018 and sell it today you would lose (4.21)  from holding Yobit Cerium USD or give up 84.12% of portfolio value over 30 days.

Pair Corralation between HitBTC PeerCoin and Yobit Cerium

-0.53
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy98.36%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC PeerCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC PeerCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Cerium USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Cerium USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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